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Economics and Business Basics Flashcards | StudBud
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Economics and Business Basics
Economics and Business Basics
15 terms
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StudBud Administration
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36 plays
Test your knowledge on fundamental concepts in economics and business
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
True or false: Human resources are machines.
True
False
2
What does a circle graph represent?
Total data only
Just percentages
Only one category
Parts of a whole
3
What is a consequence of building a park?
More jobs created
Less community space
Higher taxes only
No effect on health
4
What does specialization lead to?
Fewer skills
Better products
More confusion
Less trade
5
True or false: Circle graphs can show 200% data.
True
False
6
True or false: Supply and demand are unrelated.
False
True
7
What is a productive resource?
Only human skills
Only natural resources
All types of resources
Only capital goods
8
True or false: Specialization is only for countries.
True
False
9
What is a consequence of choices?
No results
Present and future results
Only future results
Only present results
10
Which is a good circle graph feature?
Too many slices
No labels
Distinct colors
Similar colors
11
Which is a capital good?
Teacher
Oven
Sunlight
Water
12
What are natural resources?
Only minerals
Gifts from nature
Only plants
Man-made items
13
What happens when demand is high?
No effect on prices
Prices stay the same
Prices go up
Prices go down
14
What is supply?
Quality of goods
Desire for products
Price of items
Amount available
15
What is an example of entrepreneurship?
Starting a bakery
Being a teacher
Running a lemonade stand
Working at a store
