Walker MU-1

Front

What is an external factor that affects business cycle? Money Supply, Climatic Changes, Aggregate Demand, Inventory Levels

Back

Climatic Changes

Front

What motivates a business owner to improve efficiency?

Back

Profits

Front

What is determined by counting the number of completed packages at a gift wrapping booth?

Back

Output

Front

Marketing functions involve interrelated activities to get goods and services from producers to:

Back

Consumers

Front

What increases gross domestic product? Options: Decreasing exports, Improving the use of resources, Reducing productivity, Purchasing fewer capital goods

Back

Improving the use of resources

Front

The point at which producers begin to make a profit on a product is known as: Total revenue - marginal cost = producer surplus

Back

Surplus

Front

As the price of an item increases demand will:

Back

Decrease

Front

What happens to price when there is a surplus of a good or service?

Back

The price decreases

Front

The purpose of government regulations of business monopolies is to:

Back

Protect competition

Front

A business with well-planned buildings, effective employee training and careful selection of goods and services does what:

Back

Prevent or control risk