Chapter 1 Vocabulary/Review 2017 Question Preview (ID: 38382)


Chapter 1 Vocabulary/Review 2017. TEACHERS: click here for quick copy question ID numbers.

5th step in 5 STEPS in the DECISION-MAKING PROCESS
a) Evaluate your decision.
b) Identify possible courses of action. (hypotheses)
c) Identify the situation – a decision that affects one’s life for a long period of time should take longer to make.
d) Make a decision.

4th step in 5 STEPS in the DECISION-MAKING PROCESS
a) Determine the pros and cons. (T-Chart)
b) Identify possible courses of action. (hypotheses)
c) Identify the situation – a decision that affects one’s life for a long period of time should take longer to make.
d) Make a decision.

3rd step in 5 STEPS in the DECISION-MAKING PROCESS
a) Determine the pros and cons. (T-Chart)
b) Identify possible courses of action. (hypotheses)
c) Identify the situation – a decision that affects one’s life for a long period of time should take longer to make.
d) Make a decision.

2nd step in 5 STEPS in the DECISION-MAKING PROCESS
a) Determine the pros and cons. (T-Chart)
b) Identify possible courses of action. (hypotheses)
c) Identify the situation – a decision that affects one’s life for a long period of time should take longer to make.
d) Make a decision.

1st step in 5 STEPS in the DECISION-MAKING PROCESS
a) Determine the pros and cons. (T-Chart)
b) Identify possible courses of action. (hypotheses)
c) Identify the situation – a decision that affects one’s life for a long period of time should take longer to make.
d) Make a decision.

The act of gathering and analyzing information about the wants, needs, and preferences of consumers in a certain market. (what is demanded by the consumer)
a) business
b) consumer
c) market research
d) competition

The contest between businesses to win customers.
a) resources
b) business
c) profit
d) competition

A person who uses goods or services. (Products are discontinued when there is NO demand for them from the consumer.)
a) business
b) consumer
c) market research
d) competition

The money left over after a business has paid the cost of providing its goods and services.
a) resources
b) business
c) profit
d) competition

Any commercial activity that seeks profit by providing goods or services.
a) resources
b) business
c) profit
d) competition

Tasks that businesses perform for consumers.
a) services
b) needs
c) goods
d) wants

Items that people can use to make or obtain what they need or want. (money, labor, fuel)
a) resources
b) business
c) profit
d) competition

Things that you do NOT have to have in order to survive.
a) services
b) needs
c) goods
d) wants

Things that you must have in order to survive.
a) services
b) needs
c) goods
d) wants

Physical products—i.e. groceries, phones, etc.
a) services
b) needs
c) goods
d) wants

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 38382 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links