Business Essentials Pre-Test

Which of the consumer responsibilities requires consumers to analyze and use information about products wisely?

• be heard

• information

• healthy environemnt

• redress

The Federal Trade Commission protects ____ by stopping unfair, deceptive, or fraudulent practices in the marketplace.

• businesses

• investors

• traders

• consumers

__ is a measure of profitability that shows the percentage of revenue that exceeds the cost of goods sold.

• Gross sales

• Net sales

• Gross profit margin

• Profit margin

__ profit is a company's profit before subtracting expenses.

• Investors

• Gross

• Sales

• Local

The ___ is the central banking system of the United States of America.

• Federal Asset Management Commission

• Federal Reserve

• Board of Governors

• Federal Open Market Committee

__ is the property you possess such as bank accounts, investments, or other assets that is worth more than your debts.

• Debt

• Bond

• Cash Value

• Capital

Ethical labor practices for suppliers include the use of products that have been certified as meeting?

• financial incentive programs

• department of agriculture approval

• sustainable economic factors

• fair trade standards

__ refers to business activities that are not regulated by the government but are defined by a set of legal rules such as property rights, contracts, and competitive bidding .

• Communism

• Subsidies

• Free enterprise

• Socialism

Somebody that has the idea and enterprise to mix together the other factors of production to produce something valuable

• bouncer

• investor

• owner

• entrepreneur

The study of the individual pieces that together make an economy.

• macroeconomics

• microeconomics

• capitalism

• individualism