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POB Chapter 5.1 Review

Total questions: 22

Worksheet time: 12mins

Name
Class
Date
1.

About what percent of US businesses employ 100 or more workers?

a)

35%

b)

less than 1 %

c)

5%

d)

20%

2.

The largest number of U.S. businesses employ

a)

no employees other than the owner

b)

between 10 and 20 people

c)

between 50 and 100 people

d)

more than 100 people

3.

Which of the following is not one of the common activities of all businesses?

a)

employing and training personnel

b)

marketing good and services

c)

maintaining business records

d)

producing good and services

4.

A retailer is an example of a(n)

a)

intermediary

b)

producer

c)

service business

d)

extractor

5.

Which of the following is not a producer?

a)

chicken farm

b)

coal mine

c)

appliance factory

d)

pharmacy

6.

Business activities start from

a)

service businesses

b)

intermediaries

c)

producers

d)

marketers

7.

Which major category of businesses is the fastest growing in the us economy

a)

producer

b)

service business

c)

manufacturer

d)

intermediary

8.

All businesses make products.

a)

true

b)

false

9.

Business that takes resources from nature for direct consumption is a specific producer called a(n)

a)

Manufacturer

b)

Corporation

c)

Extractor

d)

Intermediary

10.

_____ refers to the activities directed at providing the goods and services wanted by a business’ customers.

a)

Manufacturing

b)

Marketing

c)

Accounting

d)

Financing

11.

A(n) ____ carries out activities that are consumed by its customers.

a)

producer

b)

service business

c)

manufacturer

d)

intermediary

12.

Many businesses have ____ departments that work to discover new product or service ideas.

a)

Marketing

b)

Sales

c)

Production

d)

Research & Development

13.

___ is the amount of money and things with monetary value that a business owns.

a)

Marketing

b)

Capital

c)

Revenue

d)

Expenses

14.

The idea of money flowing from businesses to households and government and back again is known as the _______.

a)

Research and Development

b)

Circular Flow of Income Model

c)

Marketing Plan

d)

Production Plan

15.

The largest number of U.S. businesses employ

a)

Between 50-100 people

b)

No employees other than the owner

c)

Between 10-20 people

d)

More than 100 people

16.

Advertising would be considered a _____ business activity.

a)

record keeping

b)

investing

c)

retailing

d)

marketing

17.

The most important role of businesses is to make and distribute products and services.

a)

True

b)

False

18.

All businesses buy goods and services.

a)

True

b)

False

19.

Which of the following types of businesses are producers? (Select all that apply)

a)

Extractors

b)

Retailers

c)

Farmers

d)

Manufacturers

20.

Which of the following would be considered intermediaries? (select all that apply)

a)

grocery store

b)

car dealerships

c)

social media influencer

d)

farmer

21.

Which of the following would be considered service businesses? (select all that apply)

a)

law firm

b)

plumber

c)

hair salon

d)

car manufacturer

22.

More than ____ of all U.S. employment is now in service-producing businesses.

a)

20%

b)

35%

c)

50%

d)

60%