Straighterline Business
BUS 101 Straighterline Intro to Business
Exam
Course Title and Number: BUS 101 Straighterline
Intro to Business Exam
Exam Title: US History 101 American History Exam
Exam Date: Exam 2024- 2025
Instructor: [Insert Instructor’s Name]
Student Name: [Insert Student’s Name]
Student ID: [Insert Student ID]
Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
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, Straighterline Business 2025-2025
BUS 101 Straighterline Business Final Exam Prep
Questions and Answers | 100% Pass Guaranteed |
Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Any activity that seeks to provide goods and services to
others while operating at a profit. - Answer>> Business
Tangible products such as computers, food, clothing,
cars, and appliances. - Answer>> Goods
Intangible products such as education, health care,
insurance, recreation, and travel and tourism. -
Answer>> Services
A person who risks time and money to start and
manage a business. - Answer>> Entrepreneur
The total amount of money a business takes in during a
given period by selling goods and services. - Answer>>
Revenue
The amount of money a business earns above and
beyond what it spends for salaries and other expenses.
- Answer>> Profit
Writer who called economics "the dismal science." -
Answer>> Thomas Carlyle
Studies about the effects of population growth on the
economy are a part of... - Answer>> Macroeconomics
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,Economist who believed FREEDOM was vital to the
survival of any economy - especially the freedom to
own land or property and to keep the profits - Answer>>
Adam Smith
Who is considered the "Father of Modern Economics"? -
Answer>> Adam Smith
A phrase coined by Adam Smith to describe the process
that turns self-directed gain into social and economic
benefits for all. - Answer>> Invisible Hand
According to Smith's theory, why are business owners
motivated to work hard? - Answer>> Because they know
they will earn and keep the rewards of their labor.
An economic system in which all or most of the factors
of production and distribution are privately owned and
operated for profit. - Answer>> Capitalism
What is the foundation of the U.S. economic system,
and of the economies of England, Australia, Canada, &
most other industrialized nations. - Answer>> Capitalism
The state runs some businesses instead of private
owners. - Answer>> State Capitalism
What are the four basic rights under free-market
capitalism? - Answer>> 1) Own private property
2) Own a business & keep all the profits
3) Freedom of competition
4) Freedom of choice
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, What is a benefit of the 4 basic rights of capitalism? -
Answer>> People are willing to take more risks than they
might otherwise.
4 addition freedoms President Roosevelt felt were
essential to economic success: - Answer>> 1) Speech &
Expression
2) Worship in Own Way
3) From Want
4) From Fear
Market in which decisions about what and how much to
produce are made by the market - by buyers and
sellers negotiating prices for goods and services. -
Answer>> Free Market
How do we send signals to tell producers what to make,
how many, in what color, and so on? - Answer>> By
choosing to buy or not to buy certain products and
services.
If something is wanted but isn't available, the price
tends to go... - Answer>> UP
How are prices determined in a free market? - Answer>>
By buyer and sellers negotiating in the marketplace.
The quantity of products that manufacturers or owners
are willing to sell at different prices at a specific time. -
Answer>> Supply
The quantity of products that people are wiling to buy
at different prices at a specific time. - Answer>> Demand
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