Business & Marketing Flashcards
Not a need
Fine jewlery
Corporation
A business that is owned by stockholders and operated under permission from the state
What includes tools and equipment used to produce goods and services?
Capital Resources
Partnership
Two or more owners that share in the profits are a type of business
When many more people wish to purchase a product…?
Its price will increase
Prosperity
The stage of the business cycle is when business is considered good
Needs
Things that are necessary for survival, such as food, clothing, and shelter
Natural resources
Raw materials supplied by nature
When a country decides to focus on advanced technology and a skilled labor force, it is primarily answering which of the basic economic questions?
How to produce?
Which of the following is a consumer?
A business, the government, an individual
Why do businesses invest resources and take risks? (primary reason)
To earn a profit
