Advanced Intro to Biz

Front

Business is all around you and impacts ___.

Back

all are correct

Front

If a product is very useful to a consumer, it is said to have high ___.

Back

utility

Answer explanation

Front

Shopping on Amazon can be said to be a(n)…

Back

online marketplace

Answer explanation

Front

If a sandwich shop opens across the street from a HS that allows off campus lunch, it is said to have:

Back

place utility

Answer explanation

Front

Revenue - costs =

Back

profit

Answer explanation

Front

Profit = income earned (revenue) - expenses (costs of making product)

Back

True

Front

If Bob makes something and it costs him $10, he should sell for:

Back

at least $11 - make a profit

Answer explanation

Front

If Bob makes something and it costs him $10, and he wants to make $5 profit margin on each unit, he should:

Back

sell it for $15

Answer explanation

Front

Economics studies how a product is produced, sold, and ___?

Back

used by a consumer

Front

Entrepreneurs take ___ to start new businesses to earn ___.

Back

risks, profits

Answer explanation