an organization that produces and distributes goods and services.

• Market

• Consumer

• Business

 Activities provided by a business that cannot be touched. 

• Goods

• Services

• Consumers

Things that we would like to have, but are not necessary for survival are

• Goods

• Wants

• Needs

A type of business that makes money from donations by people.

• Online business

• Non-profit Organization

• Market

A tree is an example of which factor of production?

• Land

• Labor

• Capital

• Entrepreneurship

A business owner is an example of which factor of production?

• Land

• Labor

• Capital

• Entrepreneurship

Which part of a business plan provides an overview of what the business is about?

• sales

• market analysis

• management and organization

• executive summary

You are marketing a cheap tablet that is especially geared toward the needs of high school students. What demographic variable would you most likely consider in your marketing campaign?

• marital status

• gender

• religion

• age

Which of the following indicates a period of time in which economic growth is happening?

• Contraction

• Expansion

• Trough

• Recession

As a company, I am going through a phase in which there are too many employees and not enough work. A lot of newer businesses have had to close down due to not being able to keep up with their expenses. I have had to lay off employees and am struggling to create enough business to pay my debts. Hopefully the economy will expand soon...

• Contraction

• Peak

• Trough

• Expansion