Goodson - Unit 5 Info Sheet Business Essentials Exam Questions and Answers – UPDATED!!
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Goodson - Unit 5 Info Sheet Business Essentials
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Goodson - Unit 5 Info Sheet Business Essentials
Goodson - Unit 5 Info Sheet Business Essentials Exam Questions and Answers – UPDATED!!
Natural Resources - Answer-Coal, Iron, Gold, Oil, Trees
Services - Answer-Maid, Barber, Nail Salon, Lawn Care
Three Economic Questions - Answer-What goods or services to produce?, How to produce the good...
Goodson - Unit 5 Info Sheet Business
Essentials Exam Questions and
Answers – UPDATED!!
Natural Resources - Answer-Coal, Iron, Gold, Oil, Trees
Services - Answer-Maid, Barber, Nail Salon, Lawn Care
Three Economic Questions - Answer-What goods or services to produce?, How to
produce the goods or services?, For whom to produce the goods or services?
Scarcity - Answer-Shortage, or insufficient quantity of an item.
Consumer - Answer-A person who acquires goods or services for his/her own personal
use.
Competition - Answer-Any person or company in the same industry that offers a similar
product or service for sale.
Capital Resources - Answer-Buildings, Money, Equipment, Tools
Business - Answer-The purchase and sale of goods and services to make a profit.
Supply - Answer-The total amount of a product that is available for purchase.
Demand - Answer-The quantity of goods that buyers will take at a particular price.
Economic Resources - Answer-Natural Resources, Capital Resources, Human
Resources
Goods - Answer-Merchandise that a business sells to consumers.
Economic Systems - Answer-Capitalism, Socialism, Communism
4-P's of Marketing - Answer-a. Price
b. Place
c. Promotion
d. Product
Wants - Answer-I-Pad, LeBron Shoes, Michael Kors Purse,
Three Purposes of a Business - Answer-a. Make a profit
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