Entrepreneurship Final Review

Which of the following is a fundamental question of economic?

• What goods and services are produced?

• What quantity of goods and services are produced?

• For whom are goods and services produced

• all of these

Which of the following is the flow of goods and services around the whole world

• fair trade

• importing

• exporting

• global economy

Which of the following is the business activity in which goods or services are sent from a country and sold to foreign consumer?

• fair trade

• importing

• exporting

• global economy

Which of the following is the business activity in which goods and services are Brough into a country from foreign suppliers?

• fair trade

• importing

• exporting

• global economy

Which of the following is the policy encouraged by private organizations with the goal of ensuring that small producers in developing nations earn sufficient profit on their export goods to improve their working, environmental, and social conditions?

• fair trade

• importing

• exporting

• global economy

Which of the following is the quantity of goods and services a business is willing to sell at a specific price and specific time?

• supply

• demand

• point of equilibrium

• profit motive

• non-profit organization

Which of the following is the quantity of goods and services consumers are willing to buy at a specific price and a specific time?

• supply

• demand

• point of equilibrium

• profit motive

• non-profit organization

Which of the following is when the supply curve and the demand curve intersect?

• supply

• demand

• point of equilibrium

• profit motive

• non-profit organization

Which of the following is an incentive that encourages entrepreneurs to take business risks in the hope of making a profit?

• supply

• demand

• point of equilibrium

• profit motive

• non-profit organization

Which of the following is an organization that operates solely to serve e the good of society?

• supply

• demand

• point of equilibrium

• profit motive

• non-profit organization