Entrepreneurship Chapter 2. quiz

Your needs and wants ....

The ________ _______ consists of product, distribution, price and promotion.

The private ownership of resources by individuals rather than the government is called .....

Which of the following is an example of a need?

How does competition benefit consumers?

_______ occurs because people's needs and wants are unlimited but resources to meet N&W are limited.

The quantity of good or service that consumers are willing to by at a given price is called ________

in a(n) ________ economy, the government determines what, how, and for whom products and services are produced.

Which of the following would be considered a capital resource?

Earning a college degree would belong in which stage of Maslow's hierarchy of needs?

Individuals and businesses decide what, how, and for whom goods and services are produced in a

Which Business function would determine the amount of capital needed for the business and get capital?

___________ exists when there is only one provider of a product or service.