

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
Competition among businesses would align with Adam Smith's metaphor of the ________ ____, because it implies that producers are creating better quality goods and services at prices that benefit the consumer, and therefore society as a whole.
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?
Show answer
Auto Play
Slide 1 / 19
SLIDE
Similar Resources on Wayground
10 questions
Physical Geography-Regions of Texas
Presentation
•
7th Grade
14 questions
Thomas Jefferson
Presentation
•
7th Grade
14 questions
Asking and Giving Opinion Lesson
Presentation
•
8th Grade
15 questions
SS8E2
Presentation
•
8th Grade
17 questions
5 Themes of Geography
Presentation
•
7th Grade
12 questions
The Texas Revolution (Part 1)
Presentation
•
7th Grade
15 questions
Environmental Issues of Africa
Presentation
•
7th Grade
15 questions
Life In Medieval Towns - The Growth of Medieval Towns
Presentation
•
7th Grade
Popular Resources on Wayground
10 questions
Safety Day 2026 – Student Review
Quiz
•
9th Grade
21 questions
Continents and Oceans
Quiz
•
6th Grade
20 questions
Parts of Speech
Quiz
•
5th Grade
16 questions
Subject & Predicate
Quiz
•
5th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
12 questions
Map Skills
Quiz
•
3rd Grade
22 questions
Continents and Oceans
Quiz
•
5th Grade
15 questions
Rounding Decimals
Quiz
•
5th Grade
Discover more resources for Social Studies
19 questions
Foundations of America
Quiz
•
6th - 8th Grade
10 questions
Exploring the Age of Exploration: Key Events and Figures
Interactive video
•
6th - 10th Grade
20 questions
Articles of Confederation
Quiz
•
8th Grade
15 questions
Middle Ages of the Middle East Vocab List (CFA #2)
Quiz
•
6th - 8th Grade
10 questions
13 Colonies: Comparing Regions
Quiz
•
7th Grade
26 questions
SW Asia History
Quiz
•
7th Grade
16 questions
Causes of the Texas Revolution
Quiz
•
7th Grade
14 questions
Types of Government Overview (SW Asia)
Presentation
•
7th Grade