Front

Which of the following is the definition of Marketing? Options: manufacturing goods for consumption, getting goods to where they are needed, finding the money necessary to start and finance a business, all activities that link producers to consumers in order that exchanges can be made

Back

all activities that link producers to consumers in order that exchanges can be made

Front

Which of the following refers to the science that deals with the production, distribution, and consumption of commodities? Options: Marketing, Finance, Economics, Accounting

Back

Economics

Front

In a free-market economy, what will generally happen to the supply of a product if its price goes up?

Back

it will also go up

Front

Which type of economic system best describes a combination of public and private enterprise?

Back

Mixed

Front

Which of the following is the economic basis for the free-enterprise economic system? Options: competition, the profit motive, the marketplace, supply and demand

Back

the profit motive

Front

An economy in which production, investment, prices, and incomes are determined centrally by a government?

Back

Command

Front

A business activity that is defined as the planning, recording, analyzing, and interpreting of financial information.

Back

Accounting

Front

Of the following, which is the most commonly used financial planning tool? Options: a standard, a flow-chart, a budget, a Venn diagram

Back

a budget

Front

Which of the following is a financial statement showing the revenue and expenses for a fiscal period? Options: A Work sheet, An Income statement, A Balance sheet, A Trial balance

Back

An Income statement

Front

Which term describes an amount owed by a business? Options: An asset, Owner's equity, A liability, Capital

Back

A liability