Intro to Business 1: HS

Front

What drives consumer purchases?

Back

Wants & Needs

Front

What's the first step in the decision making process?

Back

Identify the situation

Front

What's the last step of the decision making process?

Back

Evaluate your decision

Front

What do companies thrive on?

Back

competition

Front

What are Factors of Production?

Back

economic resources needed to produce a society's goods & services

Front

What is Economics?

Back

study of how individuals & groups satisfy needs and wants by making choices

Front

What type of economy is the most common? Options: market segmentation, mixed economy, command economy, market economy or free enterprise

Back

mixed economy

Front

Which of these is NOT a measurement of economic activity? Recession, GDP - Gross Domestic Product, inflation, standard of living

Back

Recession

Front

What type of business ownership is the most common in the United States? Options: corporation, partnership, sole proprietorship, limited liability

Back

sole proprietorship

Front

What form of business gathers raw materials, such as wheat or fish?

Back

Producer