2.3 OAA

An entrepreneur is someone who...

• runs for government

• makes entrees for someone in a restaurant

• invent machines

• operates a business

Economics is the study of...

• food

• money

• choices

• the federal economy

An example of a need is ___________, while an example of a want is _____________. 

• shelter; a mansion

• mansion; shelter

• Xbox; PS5

• PS5; Xbox

If you sold lemonade from a lemonade stand on the street, the lemonade would be a ...

• good

• service

• risk

• profit

An entrepreneur could be a(n)...

• businesswoman

• farmer

• Instagram influencer

• all of the following choices

One way to measure profit is by... 

• how much money a business has made

• how many customers a business has in a day

• how many new locations a business has

• all of the following choices

An example of good risk would be...

• a YouTuber releasing a video review about a new, popular video game

• a fast food chain opening a new restaurant in a struggling shopping mall

• a company manufacturing t-shirts that sell for hundreds of dollars

• a person taking out a loan of $100,000 to start a new business out of their home

Supply is how much of something someone has ___________, while demand is how much of something someone ________________.

• risked; profited

• profited; risked

• wants; produced

• produced; wants

What is a good?

• something that can be physically bought

• the work you pay for someone to do

• someone who operates a business

What is an example of a profit?

• losing customers

• gaining customers

• buying goods