Chapter 4 TEST Principles of Business

Lumber is an example of a nonrenewable resource.

• True

• False

OSHA is a federal agency that regulates workplace safety standards.

• True

• False

Principles of morality or rules of conduct are called ethics.

• True

• False

The U.S. government does not play a major role in the American economy.

• True

• False

Your computer is an example of intellectual property.

• True

• False

A trademark is a word, letter, or symbol linked with a specific company or product.

• True

• False

Most goods and services you use are provided by the U.S. government.

• True

• False

All public utility companies are owned and operated by state governments.

• True

• False

A monopoly exists when a business has control of the market for a product or service.

• True

• False

Government income is called revenue.

• True

• False