{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Practice Exam - A som B communism C capitalism D...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Name: __________________________ Date: _____________ 1. Which of the following are organized for profit and provide goods and services? A) Public schools B) Churches C) Government D) Businesses 2. In accounting terms, profits are ________. 3. All of the following are businesses EXCEPT ________. 4. Technology, tools, information, and physical facilities for the operation of a business are called ________. Page 1
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
5. The human resources of a firm refer to ________. A) union workers only B) everyone over 18 years of age C) management personnel D) everyone who works for the business 6. In his book The Wealth of Nations, the Scottish economist Adam Smith was the first person to describe ________.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: A) som B) communism C) capitalism D) entrepreneurship 7. To be successful in the private enterprise system, firms must ________. A) be organized as corporations B) find a basis for competitive differentiation C) believe that high prices will automatically ensure high profits D) be regulated by government 8. Citizens in a private enterprise system have the right to choose their employment, purchases, and investments, illustrating their right to ________. A) profit B) credit C) freedom of choice D) private property 9. In colonial days, America's economy was primarily based on ________. A) gold mining B) agriculture C) real estate D) mass production 10. In colonial society, real economic and political power was centered in ________. A) Cities B) rural areas C) areas west of the Mississippi River D) metropolitan areas Page 3...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern