EC-070
What is business and society?
A characteristic of human wants is that they are
What is limited?
An entrepreneur
What is a person who starts and runs a business?
Which of the following factors may influence supply:
What is natural disasters?
The idea that businesses should consider social and environmental impacts, not just profit
An example of a noneconomic want would be the desire for
What is a friend?
Name one example of an employability skill
What is communication, teamwork, reliability?
A partnership
What is a business owned by two or more people?
Marc wants to figure out how much changes in price will affect his business’s sales, so he pays attention to
What is a luxury?
What is the main goal of most traditional businesses?
What is profit?
If a good or service is scarce, consumers will usually be
What is willing to pay money to get it?
A skill that involves showing up on time and meeting deadlines
What is responsibility?
Advertising
What is a paid promotion of a product?
Which of the following is characteristic of a seller’s market:
What is high prices?
The term that describes groups affected by a business's actions.
What is stakeholders?
Producers respond to consumers’ positive economic “votes” by
What is increasing production?
What is teamwork?
You study what customers want before selling
What is market research?
Marc wants to figure out how much changes in price will affect his business’s sales, so he pays attention to
What is elasticity?
A company follows all laws but still harms the environment. Is it ethical?
What is not ethical?
Why do marketers classify goods and services?
What is to aid in marketing planning?
Why are employability skills important?
What is helping you get hired and succeed in a job?
You spend more money than you make
What is loss?
Which of the following determines whether consumers can purchase goods or services
What is buying power?