
BE Unit 2.00 Practice Test
Flashcard
•
Business
•
8th Grade
•
Practice Problem
•
Hard
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62 questions
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1.
FLASHCARD QUESTION
Front
__________________: the rivalry between two or more businesses to attract scarce customer dollars.
Back
competition
2.
FLASHCARD QUESTION
Front
__________________: the amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell; the amount of money a business pays for the products (or for any part of the products) it sells.
Back
cost of goods
3.
FLASHCARD QUESTION
Front
__________________: the possibility of loss or failure that occurs as a result of the economy.
Back
economic risks
4.
FLASHCARD QUESTION
Front
The possibility of loss (failure) or gain (success) inherent in conducting business.
Back
business risk
5.
FLASHCARD QUESTION
Front
Amount of income earned by a business prior to paying income taxes.
Back
income
6.
FLASHCARD QUESTION
Front
The money that a business spends.
Back
expenses
7.
FLASHCARD QUESTION
Front
Rivalry between or among businesses that offer similar types of goods or services.
Back
competition
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