Chapter 1 Assessment IBT

Front

Which of the following is an economic want? Food, Shelter, Smartphone, Clothing

Back

Smartphone

Front

People who purchase goods and services are called:

Back

Customers

Front

Labor is:

Back

Any service a person does for a company

Front

Which is an example of an operational business activity? Options: Repaying debt, Purchasing stock, Administrative duties, Providing loans to customers

Back

Administrative duties

Front

What is the primary goal of a business?

Back

To make a profit

Front

Capital in economics refers to:

Back

The physical assets a company owns

Front

Which of the following is considered a natural resource? A factory, A computer, Water, A car

Back

Water