POBF Unit 5 Study Guide

A major characteristic of a market economy is ____________ ownership of property.

Which is a reason that a U.S. company would decide to offer its products in other countries?

Which of the following is an example of a speculative business risk?

Which is a way that government can borrow money from private sector to pay costs of regulation?

Which of the following is an outside factor that affects the business environment?

For a business, income remaining after payment of expenses is:

Which of the following represents a natural risk for the owner of a delivery service?

Which of the following is an example of ethical business behavior?

Business ethics involve considering issues about what is:

$762,750 in income, $291,400 in operating expenses, and $238,930 in cost of goods. Net profit?

A business that begins selling winter holiday decorations in late autumn is creating _ utility?

One of the three economic questions each organization must answer is;

The basic role of the US government is to:

Governments who provide citizens with free medical care, education, and other benefits:

Which affects the business environment because it provides the most options for consumers?

Three employees each work 35 hr/week and produce total 9,764 items. Total hourly productivity?

What do economists call the intersection of a Demand curve and a Supply curve?

Who decides how goods and services will be marketed in a private enterprise economic system?

Which of the following items would be considered a non-economic want:

The formula that is generally used to measure productivity is:

Which is an example of an economic factor that affects the business environment?

Which of the following is an example of unethical business behavior?

Selecting goods or services to sell is an example of handling business risks by _ the risk.

Businesses that successfully adapt to current market situation often realize that:

In business terms, what is profit?

Which of the following is a way that the productivity of an individual worker can be measured?

In a private enterprise economic system, interaction of supply and demand primarily determines:

Which of the following factors has aided the most in creating a global business environment?

Which situation would indicate the need to adapt to changes in the business environment?

One of the reasons that has caused government's role in business to expand is that:

Which of the following is a problem associated with communist command economies?

Which of the following provides government protection of business property?