BE Unit 2 2.03-04

BE Unit 2 2.03-04

Assessment

Flashcard

Business

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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7 questions

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1.

FLASHCARD QUESTION

Front

In a socialist economy, what determines how basic economic questions are answered?

Back

government

2.

FLASHCARD QUESTION

Front

The economic system that adopts the fewest new ideas or improvements is:

Back

traditional

3.

FLASHCARD QUESTION

Front

What economy is based on public or governmental ownership of the production and distribution of goods?

Back

socialist

4.

FLASHCARD QUESTION

Front

Under which type of economy does the government own the basic means of production, but with some private ownership of businesses?

Back

socialism

5.

FLASHCARD QUESTION

Front

What is the economic basis for the private enterprise economic system?

Back

the motive of profit

6.

FLASHCARD QUESTION

Front

Which factor is a barrier to small-business and entrepreneurial success? Options: poor management, no vision for expansion, having a clear strategic vision, having a surplus of employees

Back

poor management

7.

FLASHCARD QUESTION

Front

A small business is defined as a business employing fewer than how many people? Options: 500, 750, 1,000, 1,500

Back

500

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