PBM Pre-Test SY 21-22

This type of business ownership is ownership by one person.

The fee charged when payment is made after the due date.

The amount of money left after all deductions have been taken is the:

A financial institution owned by stockholders and operated for profit is:

These are reductions in income that reduce the income subject to tax by the exemption amount.

When a scam artist gets some of your personal information and uses it to open a new account in your name is:

The belief that, in a market economy it is the consumers who ultimately determine what goods and services are produced.

Leadership style most appropriate when an organization needs a new direction.

Type of re-organization of business, not requiring liquidation of assets:

Which one is not a function of management

This type of advertising focuses on feelings, especially feeling good.

When human wants exceed available resources is called:

This is a situation that results when the quantity demanded for a product exceeds the quantity supplied.

________is the situation that results when the quantity supplied of a product exceeds the quantity demanded.

This form verifies the employment eligibility of potential employees.

A decision made or course of action taken when faced with alternatives:

Department store cards and credit cards are examples of:

This type of advertising is logical and lists prices and brands.

The 3 C's of creditworthiness are:

The 2nd best alternative choice:

The giving up of one benefit or advantage in order to gain another regardedas more favorable:

This tax takes a larger percentage of income from low-income groups than high-income groups.

The practice of comparing prices ahead of shopping in order to achieve the best deals and pricing on goods and services.

This keeps the product in the minds of the customer and helps stimulate demand of the product.

This type of economic system thrives on competition:

This type of advertising often uses celebrities and has very little product.

Financial institution that is owned by depositors and after operating costs is divided

The release of a debtor from a debt is called

This is the rate at which prices for good and services are rising and purchasing power is falling.

_______is when all available resources are being used in the most economically efficient way.

What is Economics?

In this economy continuity and stability are valued in economic life.

3 digit number based on your credit.

This tax is based on the of income earned by a person or business in a year.

The amount of a good or service that producers are willing and able to offer is:

The government agency who supervises credit unions is:

What is marketing?

1 on 1 leadership style focused on developing individuals, showing them how to improve performance.

What does CTSO stand for?

This is terminology that deceives the consumer into thinking the item is being offered at a lower price.

This is when advertisements contains lies or may not present the whole story.

This is bringing a product (or service) to the attention of potential and current customers.

Money is...

The total amount of money earned during the pay period before deductions:

This is the federal agency that collects income taxes in the United States.

It is the obligation of a business to act to benefit society is

This form is provided by employers at the end of the year for employee tax filing.

Total amount of money owed to lenders is called:

_______ is the increase in of an economy to produce goods and services compared from one time period to another.

The record of your financial transactions is:

This is the largest category of taxes that citizens pay.

This type of business is authorized to act as a single entity (legally a person) recognized as such by law.

The amount of money subtracted from the gross income:

He is known as the father of modern economics.

This economic system exhibits characteristics of more that one type of economic system:

What are the 4 types of business classifications?

The government answers all economic questions in this economy.

You want to control your income and spending so you can save money. Which step is the best?

The amount of a good or service that buyers are willing and able to buy is:

This is the price at which the quantity demanded by buyers equals the quantity supplied by sellers.