Understanding Business and Government Basics

What is profit in a business?

• The amount of money a business loses

• The amount of money left after paying all costs

• The total amount of money a business makes before costs

• The number of products sold

Who started the Ford Motor Company?

• Sam Walton

• Henry Ford

• Thomas Edison

• Bill Gates

Which government is responsible for making laws for the entire country?

• Local government

• State government

• National government

• City council

Who is usually the leader of a city government?

• President

• Governor

• Mayor

• Senator

Which of the following is a service provided by local government?

• Printing money

• Running public schools

• Making treaties with other countries

• Declaring war

• $2

• $3

• $5

• $7

Who started Walmart?

• Henry Ford

• Sam Walton

• Steve Jobs

• Oprah Winfrey

Which level of government is led by a governor?

• Local

• State

• National

• County

Who is the leader of the United States?

• Mayor

• Governor

• President

• Judge

Which service is provided by the national government?

• Collecting trash

• Delivering mail

• Running the military

• Fixing local roads