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Business in Action 6th Edition Bovee Test Bank
Business in Action 6th Edition Bovee Test Bank
https://testbankfan.com/download/business-in-action-6th-edition-bovee-test-bank/
1) Economics is the study of how a society uses its scarce resources to produce and distribute
goods and services to its citizens.
Answer: TRUE
Explanation: Economics is the study of how a society uses its scarce resources to produce and
distribute goods and services to its citizens.
Page Ref: 26
Difficulty: Easy
AACSB: Dynamics of the Global Economy
Chapter LO: 1
Course LO: Compare and contrast different economic systems
Classification: Concept
2) Macroeconomics studies economic behavior among consumers, businesses, and industries that
collectively determine the quantity of goods and services demanded and supplied at different
prices.
Answer: FALSE
Explanation: The study of a country's larger economic issues, such as how firms compete, the
effect of government policies, and how an economy maintains and allocates its scarce resources,
is termed macroeconomics.
Page Ref: 26
Difficulty: Easy
AACSB: Dynamics of the Global Economy
Chapter LO: 1
Course LO: Compare and contrast different economic systems
Classification: Concept
3) Capital includes land and minerals that a business needs in order to produce goods and
services.
Answer: FALSE
Explanation: Capital includes money, computers, machines, tools, and buildings that a business
needs in order to produce goods and services.
Page Ref: 26
Difficulty: Easy
AACSB: Dynamics of the Global Economy
Chapter LO: 1
Course LO: Compare and contrast different economic systems
Classification: Concept
1
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall
5) Scarcity creates competition for resources, and forces trade-offs on the part of every
participant in the economy.
Answer: TRUE
Explanation: Scarcity has two powerful effects: It creates competition for resources, and it
forces trade-offs on the part of every participant in the economy.
Page Ref: 27
Difficulty: Moderate
AACSB: Dynamics of the Global Economy
Chapter LO: 1
Course LO: Compare and contrast different economic systems
Classification: Concept
6) Deciding how much money to spend on new manufacturing equipment versus launching a
new advertising campaign is described as opportunity cost.
Answer: FALSE
Explanation: Opportunity cost refers to the value of the most appealing alternative from all those
that weren't chosen. In other words, opportunity cost is a way to measure the value of what you
gave up when you pursued a different opportunity.
Page Ref: 28
Difficulty: Moderate
AACSB: Analytic Skills
Chapter LO: 1
Course LO: Compare and contrast different economic systems
Classification: Application
2
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall
7) Capitalism is a term used to describe the free-market system, one in which private parties own
and operate the majority of businesses and where competition, supply, and demand determine
which goods and services are produced.
Answer: TRUE
Explanation: Capitalism is a term used to describe the free-market system, one in which private
parties own and operate the majority of businesses and where competition, supply, and demand
determine which goods and services are produced.
Page Ref: 28
Difficulty: Easy
AACSB: Dynamics of the Global Economy
Chapter LO: 2
Course LO: Compare and contrast different economic systems
Classification: Concept
9) As social equality is a major goal of planned systems, private enterprise and the pursuit of
private gain are encouraged.
Answer: FALSE
Explanation: In a planned system, governments largely control the allocation of resources and
limit freedom of choice in order to accomplish government goals. Private enterprise and the
pursuit of private gain are not encouraged in such a system.
Page Ref: 29
Difficulty: Moderate
AACSB: Dynamics of the Global Economy
Chapter LO: 2
Course LO: Compare and contrast different economic systems
Classification: Concept
3
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall
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vernacular.[257] Ulbrich of Rappoldstein kept two scribes engaged for
five years in transcribing the Parsival, and the cost of the work
amounted to £200.
It is apparent from the preceding sketch that the development of
literature and the circulation of books during the Middle Ages were
considerable, notwithstanding the serious difficulties there were to
contend with during the ten centuries between the fall of the Roman
Empire of the West and the time of the invention of printing.
Under the “Peace of the World” secured by the imperial rule, there
had come to be an active literary production and a development of
literary interests throughout the community which called for a wide
distribution and a general use of books. There was available for the
use of publishers a great list of accepted classics, Greek and Latin,
and there were also various epochs during which there came into
existence works by contemporary writers of distinctive importance,
many of which have been preserved as classics for future
generations.
The publishers of this period had a convenient and inexpensive
material to use for the making of books, and they had available for
book production the labour of skilled and inexpensive scribes,—
chiefly slaves. The well established means of communication
throughout the Empire enabled the publishers of Rome and Massilia
and other literary centres to keep open connections with cities in the
farthest districts of the realm, and there is adequate evidence of a
well organised trade in the distribution of books over almost the
entire civilised world, a trade which continued active until the latter
part of the fourth century.
With the fall of the Empire of the West and with the destruction of
so much of the civilised organisation and machinery which had been
dependent upon Roman rule, the book trade, or, at least, the trade
outside of Italy, practically disappeared. There remained, however,
with certain classes a knowledge of the classics and an interest in
their preservation, and there remained also in the monasteries the
knowledge and practice of writing and the collections of the works of
the early Church Fathers, the multiplication of which, for the use of
the increasing number of priests, called for continued labour on the
part of the clerical scribes.
When the work of writing came to be instituted, particularly in the
Benedictine Order, as a part of the regular routine of the life of a
properly ordered monastery, and when such work came to be
accepted as a part of the daily or weekly services rendered by the
monks, the preservation of the art of writing and the preservation of
the manuscripts, the existence of which depended upon this
continued knowledge, were assured.
For centuries after 476, such literary vitality as there was
depended practically upon these Benedictine monasteries. After the
tenth century, we find a wider literary interest throughout the
community, and in certain Courts and circles of nobility, literature
began to be accepted as fashionable, and an interest in literature to
be accepted as part of the proper outfit of a gentleman.
The second stage, therefore, in the development of the interest in
books which secured the multiplication of enough copies of many of
the older books to prevent them from passing out of existence, was
in the formation of the collections by princes and nobles, collections
which were, as we have noted, usually under the charge of clerical
scribes.
The third and more important stage of development came with the
recognition, on the part of the newly founded universities of Bologna,
Paris, Prague, Heidelberg, and Oxford, of the fact that the work of
higher education required the use of collections of books for the
reference of instructors and for the direct use of the students. With
the instituting in the universities of a class of scribes (stationarii,
librarii) recognised as university officials, a recognition which carried
with it certain privileges and protection, and which went far to offset
the hampering restrictions of university and ecclesiastical
supervision, the book production of Europe took a more assured
form.
The fourth step in the extension of literary interests was taken by
the towns-people, partly at the instance of priests who were
themselves sprung from the people, and partly under the influence of
students returning from university work to their native towns; and
collections of books were made for the use of the towns-people,
while libraries, originally planned only for the work of the monasteries
and for the use of clerics, were thrown open to students generally.
There appear to have been in the manuscript period and in the
earlier ages of printing a larger number of such town libraries and a
larger extent of literary interest among the citizen class in Germany
than in either France or England.
In Italy, the development of literary interests and of literary
production worked from an early date much more outside of church
organisations than was the case either in Germany or in France.
In such centres of literary activity as Florence, Milan, Padua,
Rome, and later, Venice, the production of the classics and the
multiplying of the books of the Italian writers themselves was carried
on at the instance and to a large extent with the money of the
wealthier citizens, citizens who in many cases held no official
positions whatever. The intellectual life of Italy was, however, from
an early date, very largely influenced by the thought and the learning
that came to it from the Greeks of Constantinople, an influence
which was increasing in importance for a quarter of a century before
the fall of the Greek Empire, and which, after 1453, was naturally still
more extended and emphasised by the large immigration of Greek
scholars flying from Turkish rule and bringing with them the literary
treasures of the East. It was this invasion of Greek thought and the
restoration of the knowledge of the poetry and philosophy of classic
Greece, which gave the immediate impetus to the great intellectual
movement known as the Renaissance.
As the Renaissance movement took hold of the imagination of
Italian scholars, it found ready for its use the new invention of
printing, and through the presses of Aldus and his associates, the
thought of the Old World, reshaped with the knowledge of the
fifteenth century, gave a fresh inspiration to the intellectual life of
Europe.
In Germany, where the Renaissance movement also influenced
the intellectual life of the time, a more important impetus to the
intellectual activity came with the work of the Reformation. The
printing-press made the teachings of Luther and his associates
available for the widest popular distribution, and the towns-people
and villagers who bought from the book peddlers the tracts
containing the vigorous statements of the Reformers, and who
bought also the answering arguments of the defenders of the Roman
Church, were not merely wrestling with a religious or theological
issue, but were furthering the general education of the community
and were helping to lay the foundation of the book trade of the
future. From the earliest date of the printing-press, it was the case
that there was in Germany a larger distribution of books, printed in
the vernacular, among what one may call (for purposes of
classification) the lower orders of the community, than was the case
in either Italy, France, or Germany. The development of the relation
between literature and the community, which came after the
establishment of the new art of printing, belongs, however, to a later
chapter.
CHAPTER III.
THE MAKING OF BOOKS IN THE EARLY UNIVERSITIES.