POB Module 5

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

What method from going from a small business to a global business would be best to recommend to the owner?

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

Adrian gives Bailey a pedicure. Bailey gives Adrian a haircut. They do NOT pay money for services. What does this show

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

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

Which is an example of ethical business behavior?

What is a business's net profit if it has 762,750 in income, 291,400 in operating expenses, and 238,930 in costs of good

When prices increase, producers usually:

If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity

Which business activity should the owner use to inform potential customers about a new product?

The museum will charge just enough admission to pay the expenses of operating the museum. Will the museum be a business?

Which is a problem associated with communist command economies?

Countries whose governments provide citizens with free medical care, education, and other benefits are reffered as?

One reason why many small businesses develop an organizational design that requires a board of directors is bc a board:

A business that begins selling winter holiday decorations in a late autumn is creating what type of utility?

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

Which would customers need to present at the time of purchase to get money taken off the purchase price of the item?

The basic role of the US government is to:

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

When manufacturers give back part of the purchase price of an item to the consumer, the manufacturers are engaged in:

At PME Company, four employees worked 25 hours a week and produced 4,200 products, What is total hourly production outpu

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

Which group of words best describes wants?

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

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

The formula that is generally used to measure productivity is:

Three primary factors that affect the organizational structure of a business include interpersonal relationships, tasks,

Which is an example of an economic service?

Which is a factor that affects the business environment?

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

One factor that might limit the Human Resources available for certain jobs is a/an:

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

Farmer has 1,000 acres. He plants apples on 800 and raise cows on 200. He wants to raise more cows. Reduced apples means

Kim invests heavily in a marketing campaign to stimulate sales for her company. What type of management process is this?

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

The two main divisions of the trade industry are:

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

Which is an external factor that affects market price?

Which change provides the most time utility for a consumer?

Which is a reason that natural resources are considered limited?

Which provides government protection of business property?

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

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

Because of low demand for trucks, the dealer has been forced to lower sticker prices, creating which type of market?

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

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

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

The answer is:

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

Which is an example of a speculative business risk?

Business ethics involve considering issues about what is:

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

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

In business terms, what is profit?

Which situations would cause prices to rise?

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

The productivity of an individual worker can be measure by: