Intro to Business 2

In business terms, what is a profit?

• a risky venture

• a holiday bonus

• a monetary reward

• a good investment

Which of the following is most likely to have a negative effect on domestic small business growth

• slow inflation

• restrictive loan policies

• low interest rates

• involuntary tax reductions

The basic role of the US Government is to

• limit business start ups

• increase production

• protect US citizens

• maintain control of prices

Which of the following is the most efficient tool for gathering external information that businesses need

• library

• internet

• software

• books

A local dry cleaner that also launders and presses shirts is selling

• industrial supplies

• tangible items

• consumer services

• specialty services

What is a business's profit if it has $762,750 in income and 291,400 in operating expenses and 238,930 in cost of goods

• 471,350

• 523,820

• 232,420

• 368,730

For a business, income remaining after payment of expenses is

• loss

• capital

• profit

• debt

When prices increase, producers usually

• increase demand

• increase supply

• decrease profits

• decrease supply

Competition among businesses that offer similar types of goods or services is ______ competition

• illegal

• unfair

• indirect

• direct

Which of the following is a natural resource that can be renewed through people's efforts

• water

• trees

• mineral deposits

• crude oil