Eship1 Midterm Exam

A change in government policy can impact economic conditions.

An example of a special advantage of teen entrepreneurs is that Blank Space__________.

Becoming more efficient and minimizing start-up costs are ways to __________.

Which of the following terms is also known as the bottom line?

An economy is created by the interactions between which two groups of people?

Johnston sells smoothies made with only fresh, organic ingredients. What type of utility does this represent?

Recognize ways in which supply and demand affect the price of a good or service.

Passion is necessary to success as an entrepreneur.

Which of the following is an example of entrepreneurial discovery?

A low unemployment rate is an example of a(n) __________.

What is it called when people want more of something that is currently unavailable?

In the United States, the government protects the market by preventing monopolies.

What is taking responsibility for what has been done and what needs to be completed?

Itsuo distributes a policy on his company's ethics that all employees must read and follow.

Steven operates a machine that sews jeans. What type of business activity is that?

What is the process of scanning for changes to discover opportunities to produce new goods and services?

A good business meets __________ needs.

What types of services are gas, telephone, and electrical?

Higher customer satisfaction & more efficient use of resources are impacts of businesses that operate with a__________.

An economy is created by interactions between which two groups of people? Choose exactly two answers that are correct.