Unit 2.00 Business Environment BF10  Fall 2023

Unit 2.00 Business Environment BF10 Fall 2023

Assessment

Flashcard

Business

Practice Problem

Hard

Created by

Wayground Content

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47 questions

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1.

FLASHCARD QUESTION

Front

A business decides against opening a store in the next town because its research shows the location will be unprofitable. What form of risk management is this?

Back

avoidance

2.

FLASHCARD QUESTION

Front

A characteristic of a seller’s market is:

Back

higher prices.

3.

FLASHCARD QUESTION

Front

A form of demand for products in which changes in price correspond to changes in demand is:

Back

elastic.

4.

FLASHCARD QUESTION

Front

Economic resources that help people be more productive are:

Back

capital goods resources.

5.

FLASHCARD QUESTION

Front

A business that buys goods or services and sells them to the ultimate consumer is a:

Back

retailer.

6.

FLASHCARD QUESTION

Front

The two main divisions of the trade industry are: producers and retailers, wholesalers and retailers, wholesalers and producers, manufacturers and wholesalers.

Back

wholesalers and retailers.

7.

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

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