Business Essentials Final Review

Many successful entrepreneurs work in a related business before starting their own company.

• TRUE

• FALSE

A written description of a business venture that describes all aspects of the business is called...

• a company charter

• a company policy

• a business plan

• an executive summary

What does BCC stand for, in reference to an email?

• Basic Carpo Copy

• Basic Carbon Copy

• Blind Copy Copy

• Blind Carbon Copy

What is the economic problem?

• We have limited wants but unlimited resources.

• We have unlimited wants but limited resources.

 Which of the following is an example of an entrepreneur? 

• David delivers pizza 
• Carlos has started a  carwash company
• Katie helps her mom with the housework to earn  money

The type of economy a country has is determined by the ____.

• number of consumers and producers in the market
•  the interaction of supply and demand in the market
• amount of government  involvement in economic decision-making

In the United States economic system, who makes decisions?

• Individuals, business, and government
• individuals only
• government only

Which is the strongest motivating factor in a free market economy?

•  Ability to earn a profit
•  Government regulations
• A.  Few consumer choices

In a market economy, who decides on the prices of goods and services?

• government
• buyers and sellers
• firms
• local leaders

In email etiquette, the only correct punctuation to use is a comma.

• TRUE

• FALSE