MIE 201 – Questions With Perfect Step By Step
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Practice questions for this set
Learn 1 /7 Study with Learn
the condition in which a percentage of the population wants to work but is
unable to find jobs
Choose an answer
1 Business 2 Unemployment
3 Capitalism (free enterprise) 4 Stakeholders
Don't know?
Terms in this set (116)
individuals or organizations who try to earn a profit
Business
by providing products that satisfy people's needs
a good, service, or idea with tangible and intangible
Products
characteristics that provide satisfaction and benefits
, the difference between what it costs to make and
Profit
sell a product and what a customer pays for it
organizations that may provide goods or services
Nonprofit organization but do not have the fundamental purpose of
earning profits
groups that have a stake in the success and
Stakeholders
outcomes of a business
the study of how resources are distributed for the
Economics production of goods and services within a social
system
land, forests, minerals, water, and other things that
Natural resources
are not made by people
the physical and mental abilities that people use to
Human resources (labor)
produce goods and services
Financial resources the funds used to acquire the natural and human
(capital) resources needed to provide products
a description of how a particular society distributes
Economic system
its resources to produce goods and services
first described by Karl Marx as a society in which the
Communism people, without regard to class, own all the nation's
resources
an economic system in which the government owns
Socialism and operates basic industries, but individuals own
most businesses
an economic system in which individuals own and
Capitalism (free
operate the majority of businesses that provide
enterprise)
goods and services
pure capitalism, in which all economic decisions are
Free-market system
made without government intervention
economies made up of elements from more than
Mixed economies
one economic system
Solutions
Save
Practice questions for this set
Learn 1 /7 Study with Learn
the condition in which a percentage of the population wants to work but is
unable to find jobs
Choose an answer
1 Business 2 Unemployment
3 Capitalism (free enterprise) 4 Stakeholders
Don't know?
Terms in this set (116)
individuals or organizations who try to earn a profit
Business
by providing products that satisfy people's needs
a good, service, or idea with tangible and intangible
Products
characteristics that provide satisfaction and benefits
, the difference between what it costs to make and
Profit
sell a product and what a customer pays for it
organizations that may provide goods or services
Nonprofit organization but do not have the fundamental purpose of
earning profits
groups that have a stake in the success and
Stakeholders
outcomes of a business
the study of how resources are distributed for the
Economics production of goods and services within a social
system
land, forests, minerals, water, and other things that
Natural resources
are not made by people
the physical and mental abilities that people use to
Human resources (labor)
produce goods and services
Financial resources the funds used to acquire the natural and human
(capital) resources needed to provide products
a description of how a particular society distributes
Economic system
its resources to produce goods and services
first described by Karl Marx as a society in which the
Communism people, without regard to class, own all the nation's
resources
an economic system in which the government owns
Socialism and operates basic industries, but individuals own
most businesses
an economic system in which individuals own and
Capitalism (free
operate the majority of businesses that provide
enterprise)
goods and services
pure capitalism, in which all economic decisions are
Free-market system
made without government intervention
economies made up of elements from more than
Mixed economies
one economic system
