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WorksheetsPOB OBJ 5.02 MC
Total questions: 10
Worksheet time: 5mins
Which would customers need to present at the time of purchase to get money taken off the purchase price of the item?
discount coupons
rebate certificates
refund checks
sales receipts
A major characteristic of a market economy is which type of ownership of property?
monopolistic
limited
government
private
Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as which type of state?
military
capitalist
consumer
welfare
The basic role of the United States government is to:
protect U.S. citizens.
limit business startups.
maintain control of prices.
increase production.
In a private enterprise economic system, the interaction of supply and demand primarily determines:
product prices.
the extent of pollution.
economic choices.
government regulation.
In business terms, what is profit?
a monetary reward
a risky venture
a good investment
a holiday bonus
When manufacturers give back part of the purchase price of an item to the customer, the manufacturers are engaged in:
price fixing.
nonprice competition.
clearance sales.
offering rebates.
A vendor is extending credit to the Jones Company in return for the Jones Company's agreement to use the vendor as the sole source of its supplies. What federal act is the vendor and the Jones Company violating?
Clayton Act
Celler-Kefauver Act
Sherman Act
Robinson-Patman Act
What is a business's net profit if it has $762,750 in income, $291,400 in operating expenses, and $238,930 in cost of goods? (Net profit = Income - (Expenses + Cost of Goods))
$232,420
$368,730
$471,350
$523,820
Which represents a natural risk for the owner of a delivery service?
snowstorm
rising prices
accident
government intervention
