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Chapter 2 ; Intro to Business Flashcards | StudBud
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Chapter 2 ; Intro to Business
Scarcity is
Natural resources are used for
Chapter 2 ; Intro to Business
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A quiz on Economics Resources and Systems
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Natural resources are used for
processing goods
combining goods
producing goods
changing goods
2
Scarcity is
the lack of toilet paper
the lack of employees
the lack of money
the lack of resources
3
Supply is
the quality of goods that are sold in one day
the point at which supply and demand is at its highest
the amount of goods and services that producers provide
amount of money given when goods and services are sold
4
What is a similar thing between labor and capital resources
buildings they work at
the managers
the physical activities they do
the equipment they use
5
Teachers, therapists, and store workers are what kind of resources?
capital resources
entrepreneurial resources
labor resources
natural resources
6
Entrepreneurship is used in what type of business?
markets
restaurants
supermarket
banks
7
A market economy is
economic system in which economic decisions are made
economic system in which a central authority makes decisions
economic system with both public and private enterprises
methods society uses to distributes resources
8
Which one is
NOT
one of the four factors of productions
capital resources
entrepreneurial resources
nature resources
labor resources
9
An entrepreneur is
the founder of a company
a manager of a business
a employee at a supermarket
someone who starts their own business
10
A command economy is
the money that a business makes
an individual's business
a central authority that makes key economic decisions
the amount and goods and services
