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5 Written questions

5 Matching questions

  1. subsidy
  2. profit motive
  3. Robert L Johnson
  4. work ethic
  5. Milton Hershey
  1. a a commitment to the value of work and purposeful activity
  2. b the force that encourages people and organizations to improve their material well-being
  3. c an American manufacturer and philanthropist who founded one of the world's largest confectionery companies, the Hershey Chocolate Company
  4. d Founder of BET- A media Company
  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. a situation in which the market does not distribute resources efficiently
  3. dropped out of school, went back, met Colonel Sander, turned down ownership of KFC, opened 1st Wendy's in 1969, billionaire by age 30
  4. a period of macroeconomic expansion followed by a period of contraction
  5. founder of Latina Magazine in 1996

5 True/False questions

  1. complementsthe rivalry among sellers to attract customers while lowering costs


  2. technologythe process used to produce a good or service


  3. supplythe amount of goods available


  4. total costa cost that does not change, no matter how much of a good is produced


  5. substitutesgoods used in place of one another