Business Essentials 2.01-2.02(c)

Johnny works for a grocery store that buys food from producers and then sells it to customers. The grocery store is an example of a:

• builder

• trade industry

• service business

• raw-goods producer

A characteristic of an economic service is that it is:

• useful

• tangible

• nontransferable

• free to everyone

A business that buys goods or services and sells them to the ultimate consumer is a:

• manufacturer

• producer

• retailer

• wholesaler

If a student purchases a laptop to use for homework assignments, then the computer is considered what type of good?

• capital

• consumer

• industrial

• ultimate

Economic resources that help people be more productive are:

• human resources.

• natural resources.

• capital goods resources

• nonrenewable resources

All businesses should be socially responsible to whom?

• endorsers

• producers

• providers

• users

A large retailer wants to contribute to the well-being of society. It donates 10% of its proceeds to a charity that helps the environment. The retailer is demonstrating:

• e-tailing

• voluntary merchandise

• wholesaling

• social responsibility

What is a want that can be satisfied by spending money to consume a good, service, or leisure activity?

• economic

• limited

• noneconomic

• unlimited

Customers cast economic votes every time they:

• buy a product

• visit a business

• give their opinion

• participate in a survey

The economic resource where people work to produce goods or services are:

• capital goods

• human resources

• natural resources

• noneconomic goods