Shared Flashcard Set

Details

Business 101
exam study guide
5
Business
Undergraduate 2
04/26/2017

Additional Business Flashcards

 


 

Cards

Term

 

Economic expansion occurs when an economy is growing and people are spending more money.

() TRUE

() FALSE

 

 

Definition
TRUE
Term

The standard of living rises because people have less money to spend.

() TRUE

() FALSE

 

 

Definition
FALSE
Term

Entrepreneurs risk their wealth, time, and effort to develop for profit an innovative product or way of doing something.

 

() TRUE

() FALSE

 

 

Definition

TRUE

 

 

Term

Free-marketing capitalism and laissez-faire capitalism are essentially the same thing.

 

() TRUE

() FALSE

 

 

Definition

TRUE

 

 

Term

Products have tangible attributes only   

() TRUE

() FALSE

 

Definition

FALSE

 

 

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