Business Review

An individual who undertakes the creation, organization, and ownership of a business.

• Partnership

• Entrepreneur

• Manager

• CEO

Multiple Choice

Economic Growth is:

• Rise over time in a nation's production of goods and services

• How fast a bull market changes

• A conflict between wages and prices

• Not important to the overall health of a country

Multiple Choice

The equilibrium point is the point where:

• Supply is a shortage

• There is a surplus, top of supply curve

• Supply and demand curves cross

• The Demand is low.

When price increases the want for the good decreases. This is what?

• The Law of Supply

• The Law of Demand

• Market Demand

• Free Market

Which of the following is an example of someone who provides a good and a service

• firefighter

• Nurse

• Dentist

• Baker

An independent central bank is:

• A bank that loans money to families for mortgages

• A bank that handles the activities of investors and companies

• A bank that handles deposits, loans and processes checks

• A central bank that handles monetary policy, free from the influence of legislators

Liquidity is:

• When assets cannot be converted to cash quickly

• When assets can be converted to cash quickly

• Not necessary to take out a mortgage

• When assets are tied up in court cases

The rivalry among businesses for consumer dollars.

• Rivalry

• Competition

• Disagreement

• Business Rivalry

Something not required for survival but you would like to have:

• Goods

• Needs

• Wants

• Service

If an entrepreneur was to create a business by him or herself, it would be considered a…

• Sole proprietorship

• Entrepreneurship

• Corporation

• Partnership