How often do people make decisions about using resources?

Which is a need?

Which is an example of a public want?

What do wants and needs determine?

Which is not a service?

To make the best use of limited resources, satisfy:

What does competition cause for the consumer?

Business activities should be supported by:

Businesses affect consumers by:

The principle of scarcity states that there are limited resources for satisfying unlimited needs and wants.

How many factors of production are there?

Which is a renewable resource?

People who produce goods and services are:

How many basic economic questions are there?

In a market economy, economic decisions are primarily made:

In a market economy, citizens are responsible for:

The amount or quantity of goods and services that consumers are willing to buy at various prices is:

The contest between businesses to attract customers is:

USA uses a:

How many major economic shifts has the U.S. economy experienced?

Economic indicators are used to measure 

The total value of the goods and services produced in a country in a given year is the country’s gross domestic product.

Changes in the unemployment rate show whether an economy is:

What can occur when the government allows too much money to circulate in the economy?

When a government’s expenditures exceed tax revenues during a one-year period, it has a:

The Federal Reserve is a federal government agency that influences the economy by controlling:

The rise and fall of economic activity is called:

The ripple effect was discussed to occur during a:

What does recovery lead to?

Ethics are based on a set of:

A system of moral principles that govern the appropriate conduct of businesses is called:

A set of guidelines for maintaining ethics in the workplace is called a:

In many businesses, employees follow:

When making business decisions, employees have an ethical obligation to act in the interests of:

What should you do when you encounter an ethical dilemma?

What can businesses do to be socially responsible?

Businesses have a social responsibility to provide employees with:

What is the biggest social issue facing businesses today?

When a company keeps inaccurate accounting records, it is harmful to:

A person who recognizes a business opportunity, and organizes, manages, and assumes the risk of starting and operating a business is called:

Most entrepreneurs have this characteristic.

A small business is an independently owned business that serves a limited geographic area and employs fewer than:

An important advantage of owning a small business is the ability to:

A challenge of entrepreneurship is:

What percent of U.S. firms are classified as small businesses? 

Before you start a new business, you need to:

What does a business plan help an entrepreneur focus on?

What statement establishes the scope and purpose of a company?

The executive summary is a brief account of the key points in a business plan. It should be supported by evidence gathered through:

About three-quarters of businesses in the United States are:

To start a partnership, you need a: 

To operate as a corporation, a company must: 

A corporation’s owners are responsible for no more than the capital they have invested in it. What is this called?

A business organization that is owned and operated by its members is a:

To run a franchise, you have to:

The textbook describes a common way to classify types of businesses by the types of:

A producer is a type of business that: 

Which of the following is NOT a function of business?

The functional areas of a business are: