Economics 24 thru 46

36. Businesses own the goods and services they produce. This is an example of which characteristic of free enterprise?

37. Private enterprise is often called a _______________ economy.

25. The owner of a small retailer store has decided to offer designer jeans for the back-to-school campaign. Which of the following business activities should be used to inform the potential customer about the new items for sale?

32. Adapting to changes in the marketplace requires businesses to obtain customer feedback, to consider employees' input, and to

40. Several businesses complained to the state government because road construction in their area was keeping customers away. These businesses' profits were affected by

39. If the demand for a good or service decreases, what is likely to happen?

46. Which of the following government actions is most likely to stimulate the economy:

33. What actions do consumers take that determines what will be produced in a market economy?

31. To develop new products that accommodate changing markets, a business should

29. What action is a business most likely to take during the expansion phrase of a business cycle?

41. The possibility of theft by employees is considered to be an __________
business risk.

27. Globalization can be a disadvantage for domestic workers when they lose their jobs due to the practice of

43. Sandra has been caught taking items from her employer's business without paying for them. This is an example of ___________ business risk.

26. How has the ability to travel more freely contributed to globalization?

28. Forming a joint venture reduces risk by

42. A Food and Drug Administration ruling that certain goods may be harmful to consumers' health is an example of an economic risk to businesses caused by

30. Which of the following is an example of an external factor that might affect the business environment:

24. A group of individual wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the expenses of operating the museum. Will the museum be a business?

34. In socialistic countries, those people who are unable to work are

38. Which of the following factors works together in private enterprise to determine prices:

35. A family produces pottery bowls using a production method taught by the oldest member of the group. The family produces 10 bowls per week and trades them for items produced by other families. This situation would occur in a _________________ economic system.

45. The automobile industry, the pharmaceutical industry, and the oil industry are all examples of

44. Why does our government allow some monopolies to exist?