BBI2O Unit 1 Review

Which is NOT a PRICE factor that influences DEMAND

As selling price increases businesses are willing to produce more. This is the law of...

Which is NOT a PRICE factor that influences SUPPLY

Canada Post is an example of a _______ corporation

Profit =

Needs are ____ while wants are _____

To start a franchise, you will need:

If you want to work for only yourself, you want a:

Which of the following is NOT a factor that can increase or decrease demand?

Production costs, producer expectations of the future, and number of producers all can shift

The Price at which market supply and demand balance each other is known as

___ change in proportion to the amount of output produced, or amount sold.

Which is NOT a NON-PRICE factor that influences DEMAND

When demand is high, and supply is low what situation is probably occurring?

Who does supply represent in an economy?

When supply is high and demand is low prices will

When more is supplied than demanded at a Price, the result is a ________

As prices decrease consumers will purchase more. This is the law of...

A dentistry clinic is an example of a __________ business

Revenue is another word that can be used for ______

When supply is greater than demand there is a(n)...

Cities will incorporate (become a corporation) so that they can:

If many people become unemployed

A farm is an example of a __________ business

_____ is an example of a human resource.

A benefit to a joint partnership is:

What challenges might you face when starting a business?

If a corporation is on the stock market, it is:

Who does demand represent in an economy?

A toy store is an example of a __________ business

Greenpeace is an example of a __________ business

Which is NOT a benefit to opening a franchise:

When a country's trade and industry are controlled by private owners for profit, rather than by the state, it is called:

A corporation is owned by many people who possess: