Podcast
Questions and Answers
Which factor is least likely to influence the entrepreneurial environment when making business decisions?
Which factor is least likely to influence the entrepreneurial environment when making business decisions?
- Government regulations
- Market trends
- Personal interests of the entrepreneur
- Seasonal consumption patterns (correct)
What is the primary purpose of laws in society regarding businesses?
What is the primary purpose of laws in society regarding businesses?
- To ensure consumer protection (correct)
- To limit business growth
- To facilitate free market operations
- To promote competition among businesses
How does government market intervention typically affect the price mechanism?
How does government market intervention typically affect the price mechanism?
- It often stabilizes prices in volatile markets (correct)
- It has no impact on supply and demand
- It decreases government revenue from taxes
- It always increases production costs
What is a key characteristic of a market?
What is a key characteristic of a market?
Which of the following is a potential disadvantage of entrepreneurship due to innovation?
Which of the following is a potential disadvantage of entrepreneurship due to innovation?
What is one major factor that influences business decisions?
What is one major factor that influences business decisions?
Which of the following best describes a reason for government intervention in markets?
Which of the following best describes a reason for government intervention in markets?
What distinguishes entrepreneurs from regular business operators?
What distinguishes entrepreneurs from regular business operators?
Which of the following is an implication of laws within society?
Which of the following is an implication of laws within society?
What defines a market in the context of economics?
What defines a market in the context of economics?
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