Entrepreneurship Chapter 2. quiz

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Questions 13

Answers

1
in a(n) ________ economy, the government determines what, how, and for whom products and services are produced.
capitalistic
Mixed
Command
Traditional
2
___________ exists when there is only one provider of a product or service.
Monopolistic competition
An oligopoly
Perfect Competition
Monopoly
3
Your needs and wants ....
can all be satisfied if you have enough money
are the same as everybody else's
never end
all of the above
4
Individuals and businesses decide what, how, and for whom goods and services are produced in a
Command economy
Complex Economy
Traditional Ecomony
Market economy
5
Which of the following would be considered a capital resource?
Executives who decide how to operate a business
Truck used to make deliveries
Employees who work on an assembly line
The oil used to run machinery
6
Earning a college degree would belong in which stage of Maslow's hierarchy of needs?
Security
Self-actualization
Social
Physiological
7
Which of the following is an example of a need?
dinner out at a fancy place
concert tickets
a new phone
A warm coat in the winter
8
Which Business function would determine the amount of capital needed for the business and get capital?
Marketing
Production
FInance
Management
9
The ________ _______ consists of product, distribution, price and promotion.
command market
traditional market
mixed market
Phil's market
10
_______ occurs because people's needs and wants are unlimited but resources to meet N&W are limited.
Surplus
Scarcity
Demand
Open Markets
11
The private ownership of resources by individuals rather than the government is called .....
communism
Socialism
Captialism
objectivism
12
How does competition benefit consumers?
provides an incentive for businesses to keep prices as low as possible
all of the above
encourages businesses to provide good customer service
forces a business to improve products
13
The quantity of good or service that consumers are willing to by at a given price is called ________
a sale
over stocked
surplus
demand

Entrepreneurship Chapter 2. quiz Flashcards | StudBud

Entrepreneurship Chapter 2. quiz

13 termsStudBud Administration50 plays

Imported from external platform

Flashcards13 cardsFPractice quizPHost liveL

Questions 13

Answers

1
in a(n) ________ economy, the government determines what, how, and for whom products and services are produced.
capitalistic
Mixed
Command
Traditional
2
___________ exists when there is only one provider of a product or service.
Monopolistic competition
An oligopoly
Perfect Competition
Monopoly
3
Your needs and wants ....
can all be satisfied if you have enough money
are the same as everybody else's
never end
all of the above
4
Individuals and businesses decide what, how, and for whom goods and services are produced in a
Command economy
Complex Economy
Traditional Ecomony
Market economy
5
Which of the following would be considered a capital resource?
Executives who decide how to operate a business
Truck used to make deliveries
Employees who work on an assembly line
The oil used to run machinery
6
Earning a college degree would belong in which stage of Maslow's hierarchy of needs?
Security
Self-actualization
Social
Physiological
7
Which of the following is an example of a need?
dinner out at a fancy place
concert tickets
a new phone
A warm coat in the winter
8
Which Business function would determine the amount of capital needed for the business and get capital?
Marketing
Production
FInance
Management
9
The ________ _______ consists of product, distribution, price and promotion.
command market
traditional market
mixed market
Phil's market
10
_______ occurs because people's needs and wants are unlimited but resources to meet N&W are limited.
Surplus
Scarcity
Demand
Open Markets
11
The private ownership of resources by individuals rather than the government is called .....
communism
Socialism
Captialism
objectivism
12
How does competition benefit consumers?
provides an incentive for businesses to keep prices as low as possible
all of the above
encourages businesses to provide good customer service
forces a business to improve products
13
The quantity of good or service that consumers are willing to by at a given price is called ________
a sale
over stocked
surplus
demand