Multiple Choice — Identify the choice that best completes the statement or answers the question. Anything that is bought or sold is called a(n) ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ utility is added when a business changes the form of a good or service to make it more useful.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ is anywhere buyers and sellers meet to buy and sell goods and services.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A science that examines how goods and services are produced, sold, and used is called ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ economy is one in which the government makes all the economic decisions for its citizens.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The process used to measure the benefits of a decision minus the costs associated with taking that action is known as a ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ is a legally binding agreement between two or more people or businesses.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A(n) ____ is a proposal to provide a good or service.

Multiple Choice — Identify the choice that best completes the statement or answers the question. Something of value promised in a contract is called a(n) ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ means that a person is legally able to enter into a binding agreement.

Multiple Choice — Identify the choice that best completes the statement or answers the question. Promoting the welfare of others is called ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ occurs when an employee uses private company proprietary information to purchase company stock.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A(n) ____ contract lists the products or services provided by a business and the price the customer pays in exchange.

Multiple Choice — Identify the choice that best completes the statement or answers the question. Principles that help define appropriate behavior in a business setting are ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ is a document that dictates how business should be conducted.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A(n) ____ business is an organization that generates revenue.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A(n) ____ exists to serve some public purpose.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A business that purchases large quantities of products directly from producers and sells the products in smaller quantities to retailers is a ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. In a private enterprise system, ____ directly provide consumers with products that meet their needs and wants.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ is the simplest and most common form of business ownership.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ is an association of two or more persons who co-own a business with the objective of earning a profit.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The numeric system used to classify businesses and collect economic statistics is called the ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The ____ is a group of individuals who make high-level management decisions for a corporation and establish company policies.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ is the connection made among nations when economies freely move goods, labor, and money across borders.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The shared beliefs, customs, practices, and social behavior of a particular group or nation is the ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The business activity involved in making, buying, and selling product within a nation’s borders is ____ business.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The goods and services produced within a country’s borders and sold in another country are ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The ____ is the difference between a nation’s exports and its imports.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ is the process of sending and receiving messages between people of various cultures.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A partnership of two or more companies that work together for a specific business purpose is called a ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ is when a business sells the right to manufacture its products or use its trademark.

Multiple Choice — Identify the choice that best completes the statement or answers the question. Private investors who fund start-up businesses are called ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A(n) ____ is a written statement of goals and objectives for a business with a strategy to achieve them.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The movement of money into and out of a business is called ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A person who starts a new business or purchases an existing business is a(n) ____.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ are critical skills necessary to perform the required work-related tasks of a position.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ is someone with experience who can provide advice, suggestions, and ideas.

Multiple Choice — Identify the choice that best completes the statement or answers the question. ____ is the process of gathering and analyzing of information about a business.

Multiple Choice — Identify the choice that best completes the statement or answers the question. The ____ is a sentence in a business plan that describes the purpose of the business.

Multiple Choice — Identify the choice that best completes the statement or answers the question. A ____ outlines how company decisions are made.

The authority structure of a company from the highest to the lowest levels is called the ____.

____ is the process of controlling and making decisions about a business.

____ plans are created for the long-term goals of an organization.

The ability to analyze a situation, interpret information, and make reasonable decisions involves ____.