Principles of Business Final Review

Front

Things that are required in order to live are known as wants.

Back

False

Front

Goods and services are purchased by businesses as well as by individuals.

Back

True

Front

Buildings, equipment, and supplies are examples of natural resources.

Back

False

Front

The largest producer of goods and services in the world is

Back

China

Front

People producing goods and services are called

Back

human resources

Front

What is the final step of the decision-making process?

Back

review your decision

Front

Who owns the economic resources in a market economy?

Back

the people

Front

GDP measures a country’s economic output during

Back

one year

Front

____________________ occurs at the peak of the business cycle.

Back

Prosperity

Front

Government is mainly concerned with all of the following roles EXCEPT: regulating utilities, hiring public employees.

Back

making a profit