WorksheetsIntro to Business 1: HS
Total questions: 15
Worksheet time: 8mins
What drives consumer purchases?
Wants & Needs
Fun & Travel
advertising
The Business Cycle
What's the first step in the decision making process?
Make a decision
Evaluate your decision
Identify the situation
Determine pros & cons
What's the last step of the decision making process?
Make a decision
Evaluate your decision
Identify possible courses of action
Determine pros & cons
What do companies thrive on?
decision making
the business cycle
Consumers
competition
What are Factors of Production?
lack of resources
only the natural resources used for products
economic resources needed to produce a society's goods & services
only the labor it takes to produce goods
What is Economics?
study of price trends only
study of resources
study of human nature
study of how individuals & groups satisfy needs and wants by making choices
What type of economy is the most common?
market segmentation
mixed economy
command economy
market economy or free enterprise
Which of these is NOT a measurement of economic activity?
Recession
GDP - Gross Domestic Product
inflation
standard of living
What type of business ownership is the most common in the United States?
corporation
partnership
sole proprietorship
limited liability
What form of business gathers raw materials, such as wheat or fish?
Retailer
Producer
Manufacturer
Wholesaler
What type of business would turn sugar cane into sugar or crude oil into gasoline?
Manufacturer
Producer
Processor
Wholesaler
What is management?
gathering research about human needs and wants
producing and promoting a product
what is takes to control the business cycle
processes of planing, organizing, leading and controlling
What type of manager sets goals and plans for the future, plus leads and controls work of others?
middle level managers
supervisors
top level managers
low level manager
Who is responsible for daily operations of the business?
CEO & CFO
Operational managers
Middle Managers
Top Level Managers
What type of leader is open to employees' ideas, but then makes the final decisions?
free rein leaders
autocratic leaders
democratic leader
self managed leader
