IUPUI BUS x100
Liberty University
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IUPUI BUS-x100 Exam 2| 79 QUESTIONS| WITH COMPLETE SOLUTIONS
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Service Industries correct answer: Services 
 
Distribution Industries correct answer: Retailing & Wholesale Trade 
 
Production Industries correct answer: Manufacturing, General & Heavy Construction, Special Trade Construction 
 
Advantages of Small Businesses correct answer: Flexibility, Independence, Service, Simplified, Specialization 
 
Disadvantages of Small Businesses correct answer: Risk of failure, Limited potential, Limited ability to raise capital, Little 'power' 
 
key issues ...
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IUPUI BUS-x100 Exam 1| 53 QUESTIONS| WITH COMPLETE SOLUTIONS
- Exam (elaborations) • 8 pages • 2023
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An economic system in which individuals and businesses make the decisions about what to produce and what to buy, and the market determines how much is sold and at what prices is called a _________ economy. 
 A. product 
 B. producer's 
 C. command 
 D. market 
 E. planned correct answer: Market 
 
The market price of peaches is currently falling. In a free-market economy, the most likely explanation of this price change is that: 
 A. the government has decided to set a lower price because ...
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