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Intro to Business Chapter 1 - 5 Flashcards | StudBud
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Intro to Business Chapter 1 - 5
Intro to Business Chapter 1 - 5
20 terms
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StudBud Administration
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#business
Flashcards
20 cards
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Questions
20
Answers
1
Mr. Boones Favorite number is?
12
17
Potato
54
2
An entrepreneur is an individual who undertakes the creation, and ownership of a business.
FLSAE
Words
ALSO
True
3
Which is a characteristic of capitalism?
There is an even distribution of income
Resources are privately owned
Resources are shared equally
This one is here just to make you take time to read it.
4
GDP is one of the most important indicators of the status of an economy
true
rute
treu
ture
5
What drives the economy?
Resources
Wants and Needs
Goods and Services
Velociraptors
6
Which is often especially important to a small business?
Accounting
Creativity
Electronics
Digitizing
7
Wants are things that you do not have to have to survive
HUH>?@!##$
True
False
8
There are 4 questions asked by every economy
True
False there are 2
False there are 3
True because I said so
9
What does a mission statement do?
Describes the company
Reflects the purpose of the company
Tells the major goals of a business
It's how you know what your doing in C.O.D
10
Which is true of both personal and business decisions?
They should consume the most resources available
They should be made without regard for consequences
They should be consistent with values and goals
They should be made independently
11
The demand curve has a negative slope
Slope
False
True
Curve
12
Why was the EPA formed
to enforce laws in society
to help corporations with their accounting
to protect the environment
so that big businesses would be more truthful about finances
13
Services are tasks that businesses perform for customers
True
False
Maybe
Ture
14
The second step in the decision making process is to determine the pros and cons
truse
fasle
Peppercorn
False
15
Who protects consumers from dangerous of falsely advertised goods?
Federal Trade Commission
FDA
OSHA
EPA
16
Which is NOT an indicator of a county’s economic health?
Environmental awareness
Standard of living
GDP
Inflation
17
The itty bitsy spider?
Answer 2
WHOT?
when up the water spout
I hate spiders
18
When did the Industrial Revolution lead to the industry-based economy?
1800s
1700s
1900s
1600s
19
Which refers to how people satisfy their needs and wants by making choices?
Economics
Equilibrium
Entrepreneurship
Opportunity
20
The USA is known to be a market economy
U>S>A whooo
Fales
True
False
