Term 1/3 Year 9 Business Quiz

Human wants are limited but resources are abundant.

Human wants are unlimited but resources are scarce.

Human wants and resources are both unlimited.

Human wants and resources are both scarce.

Private companies

Federal or state governments or local councils

Non-profit organizations

International corporations

To maximize profits

To provide services that benefit the public as a whole

To compete with private companies

To reduce taxes

Always expensive

Always free

For free or at-cost

Based on market demand

To increase competition

To benefit private companies

To benefit the public

To reduce quality

To provide public services

To make a profit

To reduce taxes

To support government policies

Government agencies

Non-profit organizations

Private individuals

International coalitions

Only large multinational corporations

Only small local businesses

Both small firms and large multinational businesses

Only government-owned enterprises

A place where goods are stored

A place where buyers and sellers meet for the purchase and sale of goods and services

A place where only sellers gather

A place where only buyers gather

To find new employees

To determine the price of their products

To find where consumers and markets are for their product

To reduce production costs