The amount and value of goods and services produced (outputs) from set amounts of resources (inputs).

In business terms, what is profit?

The _____________ of an individual worker can be measured by dividing the number of customers served by the number of hours an employee worked.

The usefulness of a product to consumers is referred to as product

This rate includes the people of the labor force that are unemployed, are looking for work, willing to work, and unable to find work.

A museum only charges admission to pay its operating expenses. The museum is a: Like: Goodwill, Salvation Army, Habitat for Humanity

Which is an example of ethical business behavior?

If a business is not concerned about social responsibility, it is likely to:

Which change provides the most time utility for a consumer?

Equilibrium price of a good is achieved when the amount supplied is:

When manufacturers give back part of the purchase price of an item to the customer, the manufacturers are:

Which is an external factor that affects market price?

The business that begins selling Valentines decorations in early January is creating the utility of:

A local dry cleaner that also launders and presses shirts is selling:

Which represents a natural risk for the owner of a delivery service?

The government can borrow money from the private sector in order to pay costs of regulations by:

____________has aided the most in creating a global business environment.

Are a natural resource that can be renewed through people's efforts.

The desire for which item would be considered a noneconomic want?

Business people decide how goods and services will be marketed in a private enterprise economic system.

___________provide government protection of business property.

In a private enterprise economic system, the interaction of supply and demand determines

How would a business inform customers of a new product?

Business ethics involve considering issues about what is

Customers need to present ____________at time of purchase to get money taken off the purchase price of the item.

Countries whose governments provide citizens with free medical care, education, and other benefits are offering

The basic role of the United States government is to

For a business, income remaining after payment of expenses is profit.

A U.S. company should offer its products in other countries to sell broken and outdated products.

One reason that the government's role in business has expanded is that people's attitudes have changed.