WorksheetsBusiness Mgmt - Characteristics of Business
Total questions: 11
Worksheet time: 6mins
General Mills, which makes cereal like Cheerios, Trix, Wheaties, and Chex, is an example of a(n) ...
service business
goods-producing business
start-up business
industry
Which of the following would be considered an improvement vs. an innovation
invention of the telephone
launch of Tide pods (laundry soap)
first personal computers
Apple watch
What is the major risk when you are starting your own business?
Too many customers
The business may fail and you will lose money
Needing a good bank to deposit your profits
Franchising your business idea
All of the following are included in GDP except __________.
fixed investments (new buildings or office parks)
consumer spending
government spending
underground economy
Of the different forms of business ownership, which form has the most businesses?
proprietorship
partnership
corporation
limited liability corporation
This form of business ownership has unlimited liability and has a legal agreement that has to be amended everytime a new owner is added or removed
proprietorship
partnership
corporation
limited liability corporation
Who are the owners of a corporation?
directors
employees
stockholders
officers
A product's equilibrium is the price at which
The producer can no longer meet costs
consumer demand begins to drop
the producer sells at a manageable loss
supply and demand are equal
What typically occurs during a period of high inflation?
Total supply exceeds demand
The purchasing power of money rises
Prices rise rapidly
Prices slowly decline
The number of products that will be bought at a given time at a given price
demand
price
supply
equilibrium
This economic term is the measurement of the costs of a hypothetical basket of goods purchased in the current year vs. a baseline year
unemployment rate
consumer price index
inflation rate
cost of living adjustment
