Basic Business Trivia

The amount of money a business earns above and beyond what it spends for salaries and other expenses.

What is the definition of revenue?

Study of how society chooses to use resources to produce goods and services and distribute them for consumption.

The activity of providing goods or services at a profit.

Right to own land, keep majority of profits, freedom of competition and choice are features of what economic system?

In order to obtain a competitive edge on the competition, companies should focus on:

Standard of living is defined as the amount of goods and services people can buy with the money they have.

The symbol that represents a company's brand.

In business, a stakeholder is defined as:

Branch of economics that studies the operation of a nation's economy as a whole.

A person who risks both time and money to start and manage a business.

Which items are the factors of production?

What does GDP stand for?

Which of these are the 4 P's of the marketing plan?

Business is becoming more management driven than customer driven.

Productivity is:

As of 2018, what country leads the world in manufacturing?

The quantity of products that manufacturers or owners are willing to sell at different prices at a specific time.

Economic system in which most of the factors of production and distribution are privately owned & operated for profit.

What is inflation?

The quantity of products that people are willing to buy at different prices at a specific time is called:

The movement of goods and services without political or economical interference is called:

Which of these are types of business ownership in the United States?

Something that represents what a business stands for including their logo, slogan, specialty, etc.

Who is considered to be the father of economics?