Free Printable Chapter 3 S&E Sports Means Business Review

Worksheets

Chapter 3 S&E Sports Means Business Review

Total questions: 30

Worksheet time: 15mins

Name

Class

Date

An economic impact is the effect produced by decisions made by consumers and businesses.

True

False

The study of how goods and services are produced, distributed, and consumed is called marketing.

True

False

Because people have limited time and money to spend on entertainment, they must make decisions about how to spend their limited resources.

True

False

When the physical characteristics of a product or service are improved, it is called possession utility.

True

False

Building a company without outside assistance is often referred to as crowdsourcing.

True

False

Risks can be classified as controllable, insurable, and involving gain or loss.

True

False

Risk retention means purchasing insurance to cover possible losses.

True

False

The preparation for an unexpected emergency is called risk management.

True

False

An ethical dilemma occurs when a person has to choose between what is right and wrong to do.

True

False

10.

A person who exhibits consistent ethical behavior is said to have integrity

True

False

11.

An activity that will produce money is called a(n)

revenue stream

possession utility

economic utility

profit motive

12.

The major reason for being in business is

the challenge

the profit motive

the tax write off

the lack of competition

13.

Tickets to the Super Bowl or World Cup are a scarce resource,

so demand for the tickets is very high

so demand for the tickets is very low

so these events are never sold out

but this does not affect demand for the tickets

14.

The amount of satisfaction that people believe they receive from the entertainment is referred to as

form utility

economic utility

place utility

time utility

15.

Forecasting involves

purchasing and promotion

pricing and ticket sales

predicting costs and revenue

planning, distribution, price, and advertising

16.

Bringing a new professional team to a major city is an example of a(n)

speculative risk

controllable risk

insurable risk

uncontrollable risk

17.

__________ is the possibility of financial gain, loss, or personal injury.

Profit

Risk

Insurance

Utility

18.

Risk retention involves

buying insurance

assuming the cost of an uninsurable risk

stopping the activity that involves risk of loss

the possibility of loss or gain

19.

When a business is legally responsible for losses suffered by an injured person, it is said to be

liable

ethical

avoiding risk

risk averse

20.

Ethical behavior involves

making easy routine decisions

always making decisions that produce the greatest financial profits

deciding between right and wrong in a reasoned and impartial manner

all of the above

21.

(a) is the study of how goods and services are produced, distributed, and consumed.

Choose from the below words

Economics

Biology

Physics

Chemistry

22.

The amount of satisfaction a person receives from the consumption of a particular product or service is called (a)

Choose from the below words

economic utility

economic satisfaction

consumer happiness

product satisfaction

23.

(a) is the income that an investment provides for the investor.

Choose from the below words

Return on investment (ROI)

Gross profit

Net income

Revenue

24.

The (a) is developed to predict the cost of expenses and expected revenues from an event.

Choose from the below words

forecast

projection

estimate

prediction

25.

The __________ shows assets, liabilities, and net worth.

balance sheet

income statement

check register

purchases journal

26.

Capital is a company's wealth in the form of money or property.

(a)

Choose from the below words

Capital

Revenue

Profit

Income

27.

A(n) (a) is a step-by-step process by which knowledgeable safety and security staff identify and prepare to manage risks.

Choose from the below words

risk assessment

risk evaluation

risk analysis

risk management

28.

(a) are a system of deciding what is right or wrong in a reasoned and impartial manner.

Choose from the below words

Ethics

Emotions

Opinions

Beliefs

29.

Character development can be divided into stages in which people advance from childish behavior to mature and responsible behavior based on principles.

(a)

Choose from the below words

Character

Physical

Intellectual

Emotional

30.

The rules and codes of conduct on which ethical behavior is based are referred to as (a) .

Choose from the below words

principles

regulations

laws

guidelines

Reset

Chapter 3 S&E Sports Means Business Review

Total questions: 30

Worksheet time: 15mins

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