Business Final Review

Which is a name for items people can use to make or obtain what they need or want?

• goods

• services

• resources

• products

What is a commercial activity that seeks profit by providing goods in exchange for money?

• profit

• business

• market research

• competition

What drives the economy?

• resources

• goods and services

• wants and needs

• consumers

What is scarcity?

• a absence of goods and services

• unlimited wants and needs

• limited expenses

• a lack of resources

Labor resources are people who produce the goods or services.

• True

• False

The total amount of money a government owes is its

• national deficit.

• national debt.

• federal debt.

• federal deficit.

OSHA stands for

• Occupational Safety and Health Agency.

• Occupational Safety Agency.

• Occupational Safety and Health Administration.

• Occupational Site and Health Administration.

An example of an ethical business practice would be

• false advertising.

• keeping accurate financial records.

• requiring employees to work on holidays.

• not paying overtime to workers.

A shop or factory in which workers are employed for long hours at low wages and under unhealthy conditions

• restaurant

• mall

• factory

• sweatshop

Code of ethics are

• Conflicts between self-interest and professional obligation

• A rule of conduct

• Moral principles by which people conduct themselves personally, socially, or professionally

• A set of guidelines for maintaining ethics in the workpla