POBF-S5.02

A business selects goods or services to sell. Which type of risk is this business using?

A business selects goods or services to sell. Which type of risk is this business using?

private

A major characteristic of a market economy is which type of ownership of property?

Clayton Act

A vendor is extending credit to the Jones Company in return for the Jones Company's agreement to use the vendor as the sole source of its supplies. What federal act is the vendor and the Jones Company violating?

welfare

Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as which type of state?

profit

For a business, income remaining after payment of expenses is:

product prices

In a private enterprise economic system, the interaction of supply and demand primarily determines:

a monetary reward

In business terms, what is profit?

protect U.S. citizens

The basic role of the United States government is to:

$232,420

What is a business's net profit if it has $762,750 in income, $291,400 in operating expenses, and $238,930 in cost of goods?

offering rebates

When manufacturers give back part of the purchase price of an item to the customer, the manufacturers are engaged in:

There is no competition

Which is a problem associated with communist command economies?

A special promotion fails to increase sales

Which is an example of a speculative business risk?

snowstorm

Which represents a natural risk for the owner of a delivery service?

discount coupons

Which would customers need to present at the time of purchase to get money taken off the purchase price of the item?

business people

Who decides how goods and services will be marketed in a private enterprise economic system?