Running a Business Unit Quiz

Wal-Mart is the world's largest corporation.

• True

• False

Profit potential is highest when production cost is much lower than what the item will sells for.

• True

• False

Milton Hershey founded a famous cookie company.

• True

• False

Overconsumption leads to and increased supply.

• True

• False

The economy in the U.S. is based on a free enterprise system.

• True

• False

Wallace Amos became the first black talent agent at teh well known William Morris Agency.

• True

• False

Profit is money made by a business after all business-related expenses are paid.

• True

• False

When supply of an item is high, buyers are willing to pay more.

• True

• False

A side effect of scarcit is higher prices.

• True

• False

Henry Ford became a leading American businessman in the early 1800's.

• True

• False