2.00 study guide

A flood destroyed your business, what risk would this be

• Operational

• Hazard

• No risk

• Finical

Which isn’t a type of economy

• Socialism

• Capitalism

• communism

• Feminism

Which of the following represents a primary business activity?

• Planing

• Designing

• Marketing

• Supervising

Seeing a movie at a theater would be considered a(n)___want.

• Economic

• Unlimited

• Limited

• Non-economic

Every society must develop a system for deciding how it will use its resources so that it can

• Minimize risk

• Meet peoples needs

• Prevent problems

• Control production

Why are resources considered limited

• There aren’t enough available for everyone to have as much of them as desired

• People don’t want to share

• Everyone has them, and they change

• Entrepreneurs don’t invest enough in them

The amount of money paid for raw materials and products sold is Called

• Cost of goods

• Operating expenses

• Net profit

• Investments

The basic role of the United States Government is to

• Make money

• Protect U.S citizens

• Population control

• Increase production

____ economy where most goods and services are offered by private companies

• Market

• Free

• Seller’s

• Command

The best time for consumers to purchase products at reduced prices is when a(n) ____ market exists

• Buyer’s

• traders

• Command

• Free