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This is a Premium Document. Some documents on StuDocu are Premium. Upgrade to Premium to unlock it. Do you want full access? Go Premium and unlock all 38 pages  Understanding Economic Systems and Business TRUE/FALSE 1.A business is an organization that strives for a profit by providing goods and services desired by its customers. ANS:TREF:P. 4 | The Nature of Business 2.The major difference between a good and a service is how the producer uses the factors of production to create each. ANS:F The major difference is tangibility REF:P. 4 | The Nature of Business 3.Not-for-profit organizations have the same goals as for-profit organizations. ANS:F Not-for-profit organizations exist to achieve some goal other than profit. REF:P. 5 | The Nature of Business 4.Factors of production are common to all productive activities, regardless of the economic system. ANS:TREF:P. 5 | The Nature of Business 5.Labor, as a factor of production, relates only to the production of manufactured goods; services are not included. ANS:F Labor is the economic contribution of the people. REF:P. 5 | The Nature of Business 6.As a factor of production, capital includes money. ANS:F Capital is all the inputs used to produce goods and services and get them to the customer. REF:P. 5 | The Nature of Business 7.People who combine natural resources, labor, and capital in a profitable venture are called entrepreneurs. ANS:TREF:P. 5 | The Nature of Business 8.Many people consider knowledge to be a fifth factor of production. ANS:TREF:P. 6 | The Nature of Business 9.Business owners and managers have a great deal of control over the internal environment of business, which covers the day-to-day business decisions. ANS:TREF:P. 6 | Understanding the Business Environment Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. |
The gdp of poland in 2006 was approximately $512 billion. this $512 billion represents:
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