Review for PoB Midterm

The two main divisions of the trade industry are

Businesses can show their social responsibility by contributing to

Task utility is about making changes to the characteristics of a

Every business must accomplish which of the following:

The heart of economics is

Which type of business receives products from manufacturers and then sells the it to retailers?

Businesses in trade industries that offer discount prices usually offer

In economics, capital goods include

For a consumer to be satisfied, the four types of utility must be

Individual customers view products through

The American Red Cross is an example of a(n) ___________ corporation.

Which of the following is the best reason for studying economics:

When a stove is used in a restaurant kitchen, it is a

Which of the following is a characteristic of a product trade-name franchise:

To provide utility, a product must

Operations is demonstrated in which of the following phrases:

If a customer can’t afford a product, a business should

A well-planned organizational design helps a business to better compete because

The ultimate goal of all economic activity is

Why are resources considered limited?

To discover a product’s level of utility, businesses measure the consumer’s

Seeing a movie at a theatre would be considered a(n) __________ want.

Partners that share unlimited liability for the business’s losses, they are part of a(n)