Business 100 Test #1

The system of business in which individuals are free to decide what to produce, how to produce it, and at what price to sell it.

Differences among people in a workforce owing to race, ethnicity, and gender.

The organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy the society’s needs.

What remains after all business expenses have been deducted from sales revenue.

All the different people or groups of people who are affected by the decisions made by an organization.

The study of how wealth is created and distributed.

The study of the decisions made by individuals and businesses.