Business true or false – Flashcards
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All businesses must raise capital, use human resources, and keep records
answer
true
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A valid contract must contain agreement: an offer must be made, and an acceptance must occur
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true
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Saving scarce natural resources is called conservation.
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true
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Generally, a lack of competition will result in lower prices for goods and services
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false
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All economic resources have a limited supply
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true
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Reflection is part of the Evaluating phase
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false
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All businesses make goods.
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false
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Business dealings involving companies in more than one state is interstate commerce.
answer
true
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A proprietorship is a business owned and run by just one person
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true
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Socially responsible actions benefit employees and the community while costing the company nothing
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false
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The market price is the point where supply and demand are equal
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true
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Although all nations differ in the type and amount of economic resources they have, they all have the same economic needs.
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false
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Buildings, equipment, and supplies are examples of natural resources.
answer
false
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Extractors are businesses involved in selling the goods and services of producers to consumers and other businesses
answer
true
