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Digital Oasis
Digital Oasis
23 terms
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It took me so long to make this
Flashcards
23 cards
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Practice quiz
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Questions
23
Answers
1
How does competition
benefit
society?
Consumers have fun watching competitions
It doesn't
Products are higher quality and cheaper
2
What does
scarcity
mean?
Shortage of supplies
Normal amounts of supplies
Death
Over-supplying
3
Being ethical is...
Good
Bad
4
Gucci ______
Flip flops
Earrings
Vesicles
Sandals
5
What are characteristics of a
successful
entrepreneur?
Persistent
Confident
Hard-Working
Unintelligent
6
Which terms are all part of the business cycle?
Accounting, Sales, Depression, Chocolate
Recession, Depression, Summitational, Fix
Trough, Depression, Deficit, Altruism
Peak, Trough, Recession, Expansion
7
A severe, long-lasting period of negative economic growth...
Depression
Recession
8
All of these are economic indicators...
GDP, Budget Deficit, Unemployment, Inflation
Inflation, Deflation, National Debt, Recessivity, GDP
GDP, Inflation, Standard of Living, CCS, PPI
9
Who collects taxes?
Your mom
Government
10
Which one is
not
a type of economy?
Command Economy
Mixed Economy
Astral Economy
Market Economy
11
Someone coming to your house and painting your walls for you is an example of...
Painting
Service
Inflation
Good
12
Why is being unethical in business bad?
People will hate you
You can lose consumers
You lose all respect and trust
You can go to jail
13
A
non-renewable resource
is a resource from the Earth that exists in limited supply
True
False
14
GDP
stands for...
Gross Domentic Product
Gross Domestic Product
Great Domestic Product
Grand Dominicity Product
15
The amount of money our country
owes
is our...
Obama's Debt
$18 Trillion
Nutritional Debt
National Debt
16
A Business Plan...
describes every detail of your company
contains financials, mission, purpose
isn't that important
is about 30 pages long
17
The social responsibility of a business is...
To make living fun
To promote 15-35 year old producers
To get jiggy with it
To help society
18
Enron is guilty for...
Getting too turnt
Lying on financial statements
Unethical culture
Misleading shareholders
19
The Decision Making Process in order
is...
Identify, Gather Info, Alternatives, Pros/Cons, Act/Evaluate
Identify, Gather Info, Act/Evaluate, Pros/Cons, Alternatives
Identify, Gather Info, Alternatives, Act/Evaluate, Pros/Cons
Gather Info, Pros/Cons, Alternatives, Act/Evaluate, Identify
20
Definition of
want
necessary for survival
not necessary for survival
21
The FDA stands for...
Fun Drug Admiralization
Food Drag Administration
Food Drug Administration
Food Dingus Administration
22
The Definition of
Profit
is...
Inflation
Financial Gain
National Debt
Bernie Madoff
23
Supply
is how much the people want and
demand
is how much you have
False
True
