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Test Review
10 terms
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StudBud Administration
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4 plays
entrepreneurship
Flashcards
10 cards
F
Practice quiz
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Host live
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Questions
10
Answers
1
Most democratic nations have a
Planned Economy
Traditional Economy
Free Market Enterprise
Communist
2
_____
and
_____
are the products of our economic system.
Goods and services
Credit and debit
Wants and needs
3
T or F: Being an entrepreneur is not risky.
False
True
4
Which is not a reward of being an entrepreneur?
Be your own boss
Make more money
Being fully responsible
Do something you enjoy
5
Entrepreneurs respond to consumers’
_____
and
_____
with goods and services.
Wants and needs
Credit and debit
Goods and services
6
Because of intense
competition
, business ownership can be a difficult undertaking.
True
False
7
Which is a characteristic of a successful entrepreneur?
Laziness
Responsible
Greediness
Dirtbag
8
Making a
_____
is a primary incentive of free enterprise
Debt
Loan
Profit
Credit
9
Knowledge of
economics
contributes to understanding of how entrepreneurs and customers interact
true
false
10
One important factor of production for entrepreneurs is acquiring
Needs
Wants
Income
Capital
