Intro to Business Unit 1 Review

What is NOT a shortage? :)

If the school wants to add an extension but doesn't have enough land, it's a problem of what?

You and your 2 friends open a lemonade stand, you have all the lemons, cups, etc.What question?

 The quantity of a good or service that consumers are willing and able to buy is known as what?

Money left from sales after all of the costs of operating a business have been paid is what?

Raw materials found outside to make furniture or things in a restaurant are what?

Things that add comfort and pleasure to your life are what?

Your parents' backyard has a great spot for a garden, which question must be answered?

The tractor a farmer uses to plow through the corn fields is known as what?

In which economy can people own their own land and businesses?

In which economy do leaders make all the decisions?

The quantity of a good or service that businesses are willing and able to provide is what?

Things that are required in order to live are what?

At your birthday party there is one cupcake left over, they give it to the dog, what question?

Things available to be used to produce goods and services are what?

If the price of Jordan shoes goes up, the quantity listed for sale goes up, this is the law of:

In which economy do they do things based on past customs?

If demand goes down, what happens to price?

Tangible things you can see and touch are what?

The value of the next best alternative that you were not able to choose is what?

The new branch manager at the local AT&T store is known as what?

Not having enough resources to satisfy every need is known as what?

Where does a surplus exist?

Activities provided for satisfaction of others & are consumed the same time they are produced?

The owner of the new hot dog restaurant that just opened in Des Plaines is what?