Bus. Mang. Sem 1 Final

Front

Is it true that economics is the study of how people satisfy unlimited and competing wants and needs through the careful use of limited resources?

Back

True

Front

How often do people make decisions about using resources?

Back

Every day

Front

Which is a need? Car, Food, Calculator, Desk

Back

Food

Front

Which is an example of a public want? Options: Laptop, Library, Water, Mall

Back

Library

Front

What do wants and needs determine?

Back

What businesses sell

Front

Which is not a service? Education, Pro sports, Office furniture, Banking

Back

Office furniture

Front

To make the best use of limited resources, satisfy:

Back

Needs first, then wants

Front

What does competition cause for the consumer?

Back

Lower costs

Front

Business activities should be supported by: Profits, Competition, Market research, Record keeping

Back

Market research

Front

Businesses affect consumers by: Providing jobs, Deciding what to sell, Deciding what not to sell, All of the above

Back

All of the above