

How do Businesses Compete?
Presentation
•
Social Studies
•
7th - 8th Grade
•
Medium
Rachel Fulton
Used 29+ times
FREE Resource
3 Slides • 16 Questions
1
How do Businesses Compete?
2
Open Ended
What is the goal of any business?
3
Multiple Select
Businesses make a profit by providing _____ & ________.
goods & services
wants & needs
capital & capital goods
labor & management
4
Profit
def: financial gain, the difference between the amount earned and the amount spent
The money left over after all business expenses are paid
supplies, production costs, salaries, rent, utilities, advertising, taxes, etc.
5
Multiple Choice
One of the advantages of a mixed (free enterprise) economy is ______ among businesses.
cooperation
competition
friendship
sympathy
6
Multiple Choice
What could be one negative effect of competition driving prices down?
low supply
high demand
Producers might not make enough profit to continue their business
Producers might make more than enough to continue their business
7
Multiple Select
If Burger King introduces a new menu item, how might that affect the business of McDonald's?
McDonald's might introduce their own new sandwich
McDonald's will go out of business
McDonald's will offer a new deal or special
8
Multiple Choice
Offering curbside pickup or delivery would be which type of business strategy?
economic incentives
lowering prices
better quality
better customer service
9
Poll
If there are 2 pizza restaurants in town, both known for their delicious pizzas, how would you decide which restaurant to order from?
Better prices
Faster delivery times
More menu options
Cleaner facility
10
Open Ended
What is one way that businesses can compete against each other for consumers' money?
11
Strategies
Lowering Prices
Advertising
Better Products
Better Customer Service
Economic Incentives
12
Fill in the Blanks
Type answer...
13
Multiple Select
What would be an example of an economic incentive?
a new product
a buy one get one free deal
1/2 price sale
opening a new store
14
Multiple Choice
A group of people identified as likely customers is called the...
public
producers
market research
target audience
15
Multiple Choice
Gathering information about consumer's wants and needs is called...
market analysis
market research
target marketing
market competition
16
Multiple Select
Which of the following would be the best way of advertising to a teenage target audience? Choose the best 2 methods.
newspaper
TV commercial during a daytime soap opera
Tik Tok
podcast
17
Open Ended
Up until now there's only been one Chinese restaurant in town. However, there's a new Chinese buffet opening soon. How will this affect the current Chinese restaurant in town?
18
Open Ended
How will this affect the people who love Chinese food in town?
19
Open Ended
What type of business do you think we have a need for in town?
How do Businesses Compete?
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