POB 5

In a private enterprise economic system, the interaction of supply and demand determines:

Which is a natural resource that can be renewed through people's efforts?

The productivity of an individual worker can be measured by:

Which is a problem associated with communist command economies?

One reason that has caused the government's role in business t expand is that:

Which situation would most likely indicate a need to adapt to changes in a business environment

A killing frost destroys 80% of Florida's citrus crop. This will most likely create:

A business selects goods or services t sell. Which type of risk is this business using?

A major characteristic of a market economy is which type of ownership of property?

Th government can borrow money from private sector in order to pay the costs of regulation by:

Which is an example of an economic factor that affects the business environment?

Which is an external factor that affects market price?

A business begins selling winter holiday decorations in late autumn is creating what utility?

Which change provides the most time utility for a consumer?

One factor that might limit the human resources available for certain jobs is a/an:

The desire for which item(s) would be considered a non economic want?

The company decides to stock new product. Which activity the owner use to inform customers?

The usefulness of a product to consumers is referred to as product:

Who decides how good and services will be marketed in a private enterprise economic system?