Business and Economics Quiz part 1

What is the term for an organization or enterprising entity engaged in commercial, industrial, or professional activities?

• Market

• Business

• Finance

• Barter

What is the term for a place where goods and services are exchanged?

• Marketing

• Market

• Assets

• Liabilities

What is the process of promoting, selling, and distributing a product or service?

• Finance

• Marketing

• Economics

• Barter

What is the exchange of goods and services without using money called?

• Barter

• ROI

• LIFO

• FIFO

What is the management of large amounts of money, especially by governments or large companies?

• Finance

• Economics

• Market

• Business

What is the analysis of strengths, weaknesses, opportunities, and threats called?

• SWOT Analysis

• ROI

• LIFO

• FIFO

What is the term for the limited nature of society's resources?

• Scarcity

• Assets

• Liabilities

• Fixed cost

What is the study of how people use resources to satisfy their wants?

• Economics

• Finance

• Marketing

• Business

What are resources owned by a company that have future economic value?

• Assets

• Liabilities

• Fixed cost

• Market

What are the company's legal debts or obligations that arise during business operations?

• Liabilities

• Assets

• ROI

• LIFO