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5 Written questions

5 Matching questions

  1. complements
  2. Robert L Johnson
  3. Christy Haubegger
  4. Howard Shults
  5. subsidy
  1. a Founder of BET- A media Company
  2. b Starbucks expander
  3. c founder of Latina Magazine in 1996
  4. d Two goods that are bought and used together
  5. e a government payment that supports a business or market

5 Multiple choice questions

  1. the concept that everyone can compete in the marketplace
  2. the amount of goods available
  3. Describes demand that is very sensitive to a change in price
  4. someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it were provided as a public good
  5. dropped out of school, went back, met Colonel Sander, turned down ownership of KFC, opened 1st Wendy's in 1969, billionaire by age 30

5 True/False questions

  1. free contractthe concept that people may decide what agreements they want to enter into


  2. total costfixed costs plus variable costs


  3. externalitythe process used to produce a good or service


  4. competitionTwo goods that are bought and used together


  5. work ethica commitment to the value of work and purposeful activity


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