Bus Econ Pretest

Currency of European Union

Represents 70% of all forms of business organizations in the United States

When deciding which of the two items to purchase, one should always

When a person rents an apartment, who benefits from the transaction?

Describes the state of the economy when the stock market is doing well

Compulsory charges imposed on citizens by local, state, and federal government

Nationally recognized companies which dominate the industry, McDonalds, General Motors

An economy that is completely controlled by a central authority

What tools, machines, and factories, will be needed to create a product

Nation's retirement program, helps provide income for elderly and pays disability benefits

Since the resources used in the production of goods and services are limited, society must

The rate at which the general level of prices for goods and services is rising is 

When a firm decides to sell its products or services to buyers in another company

When countries send away jobs to be done by employees outside the company or country

Goals you want to achieve within the next three months

The human resource the organized and combines land, labor, and capital

Provides four types of coverage, liability, medical, uninsured, physical damage

The least regulated form of business ownership

An increase from 5% to 10% in the interest rate charged by banks would most likely encourage

In the U.S. who determines what goods and services, should be produced?

Limits the quantity of items permitted to enter a country

An economy that relies on habit, custom, or ritual to decide what to produce

The most common used barrier to free trade is

For most people, the largest portion of their personal income comes from

Buys a business concept with a proven product and operating methods

The human resources that organized and combines land, labor, capital

What knowledge, skills, education will your employees need to produce the product

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In a corporation, business shareholders receive investments in two ways

Which type of products do other countries mostly buy from the U.S.?

Describes the state of the economy when the market is doing well and investors are optimistic

The United States has a 

If the price of beef doubled and price of poultry stayed the same, consumers would likely buy

The total amount of money earned during a pay period before taxes and deductions are taken out