Module 2 Test Business Essentials
Flashcard
•
Business
•
12th Grade
•
Practice Problem
•
Hard
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48 questions
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1.
FLASHCARD QUESTION
Front
What do service businesses sell?
Back
intangible goods and services
2.
FLASHCARD QUESTION
Front
The economic resource where people work to produce goods or services are:
Back
human resource
3.
FLASHCARD QUESTION
Front
The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters?
Back
The price will increase, and the supply will increase.
4.
FLASHCARD QUESTION
Front
Competition helps create a healthy society by:
Back
creating new jobs.
5.
FLASHCARD QUESTION
Front
New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition?
Back
surplus
6.
FLASHCARD QUESTION
Front
A characteristic of a seller's market is: lower profits, higher prices, larger supply, smaller demand
Back
higher prices
7.
FLASHCARD QUESTION
Front
A business that buys goods or services and sells them to the ultimate consumer is a:
Back
retailer
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