Intro to Business and Technology Final Exam

The four different types of businesses are

• Foreign, domestic, large, and small

• Local, regional, national, and multinational

• Private, public, government, and medical

• Employee owned, government owned, foreign owned, and bank owned

_______ is the term for the money a business brings in

• Revenue
• Cost

• Save

• Spend

_______ is the term for the money a business pays out

• Expense
• Cost

• Spend

• Revenue

_______ is the term for the money a business has left after paying all expenses

• Profit
• Expense

• Cost

• Revenue

The goal is for a business to operate so that it always makes a _______

________ do not go into business with the goal of making a profit.

• Schools

• Nonprofit organizations

• Churches

• Hospitals

An example of a nonprofit organization is

• Sonic

• American Red Cross

• H.G. Hills

• Walgreens

Which of the following are the factors of production?

• Labor, natural resources, capital, and entrepreneurship

• Labor, capital, motivation, and natural resources

• Natural resources, entrepreneurship, capital, and creativity

• Labor, profits, technology, and motivation

Goods are tangible products a business sells like

• Haircuts

• Clothes

• Car insurance

• Health care

When expenses are higher than the revenue the business brings in, the business experiences a

• Profit

• Good

• Loss

• Service