Business Essentials Unit 2 Review

Front

What do service businesses sell?

Back

intangible goods and services

Front

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

Back

retailer

Front

The retailer is demonstrating: e-tailing, wholesaling, social responsibility, voluntary merchandise

Back

social responsibility

Front

The grocery store is an example of a: builder, trade industry, service business, raw-goods producer

Back

trade industry

Front

All businesses should be socially responsible to whom?

Back

users

Front

A characteristic of a seller’s market is:

Back

higher prices

Front

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

Back

elastic

Front

The economic resource where people work to produce goods or services are: capital goods, human resources, natural resources, noneconomic goods

Back

human resources

Front

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

Back

traditional

Front

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

Back

government