Entrepreneurship and Economics

Entrepreneurship and Economics

Assessment

Flashcard

Business

11th Grade

Hard

Created by

Wayground Content

FREE Resource

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19 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is supply and demand?

Back

The economic relationship between the price of a product, its availability and the customers demand for it

2.

FLASHCARD QUESTION

Front

What is a budget?

Back

A spending plan that outlines your businesses incomes and outgoings.

3.

FLASHCARD QUESTION

Front

What is a fixed cost?

Back

Business costs that do not vary

4.

FLASHCARD QUESTION

Front

What is a variable cost?

Back

The costs that change depending on the output

5.

FLASHCARD QUESTION

Front

Supply and ______

Back

demand

6.

FLASHCARD QUESTION

Front

Are concert tickets an example of a fixed or variable expense?

Back

Variable

7.

FLASHCARD QUESTION

Front

What are imports?

Back

Products purchased from foreign countries to be used or sold domestically

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