Unit 5 Test

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

Which is a factor that affects the business environment?

A business that begins selling winter decorations in late autumn creates what type of utility?

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

What federal act is being violated?

When prices increase, producers usually:

Businesses that successfully adapt to current market situations often realize that:

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

What is an example of an economic service?

Which business activity should be used to inform?

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

The basic role of the United States government is to:

One reason that has caused the government's role in business to expand is that:

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

The 2 main divisions of the trade industry are:

Which provides government protection of business property?

Which situation would cause prices to rise?

Will the museum be a business?

3 primary factors also include:

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

Which is an external factor that affects market price?

What is the business' net profit?

Which is an example of a speculative business risk?

What method is best?

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

Which type of market is created for blue pickup trucks?

Business ethics involve considering issues about what is:

For a business, income remaining after payment of expenses is:

What is the total hourly production output?

Which factor has aided the most in creating a global business environment?

The formula that is generally used to measure productivity is:

What does this demonstrate?

A local dry cleaner that also launders and presses shirts is selling:

The government can borrow money from the private sector to pay the costs of regulation by:

Which occurs when the supply of individuals who are able and willing to work diminishes?

These kinds of countries are referred to as which type of state?

Which affects the business environment because it provides the most options for consumers?

Which change provides the most time utility for a consumer?

Which represents a natural risk for the owner of a delivery service?

In business terms, what is profit?

If a business is not concerned about social responsibility, it is likely to:

What is their total hourly productivity level?

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

Which is a reason that natural resources are considered limited?

Equilibrium price of a good or service is determined by trial and error and exists when:

One reason:

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

Which is an example of ethical business behavior?

Which needs to be presented?

Which group of words best describes wants?

Which is a problem associated with communist command economies?

This is an example of:

In a private enterprise Econ. system, interaction of supply and demand primarily determines:

Which situation most likely indicates the need to adapt to changes in the business environment?

Of what type of management process is this an example?

A U.S. company would decide to offer its products in other countries as a reason to:

When manufacturers give back part of a purchase price of an item to a customer, they engage in:

The productivity of an individual worker can be measured by: