苏州新草桥中学 20182019 学年第一学期中加高一期中考试试卷Business midterm. Grade 10.Name: SCORE： Q1. Which of the following definitions is which?The law of supply, competition, the law of demand, and pricing power, all work to control the price of products.Which of the following definitions is which?a) the law of supply, b) competition,c) the law of demand, d) pricing powerMatch each letter a-d to one of the following definitions.1) The act or process of trying to get or win something that others are also trying to get or win.2 How high a company may raise prices without reducing demand for its products.3) As price increases demand decreases.4) As price increases supply increases.Q2. Forms of business ownership: co-operatives, sole proprietorships, partnerships, franchises and corporations. Write the name of the form under its definition:Owned by one person.Owned by two or more persons.One business licenses another to use its name.Worker owned company, or member owned who then buy from the business.Business is an artificial “person” created by law and is owned by shareholders.Q3. A business is part of the economic system.Match the following business terms a-e, to their meaning bellow.Write the correct letter next to its definition.a) interdependence, b) economic resources,c) human resources, d) capital resources,e) natural resources.1) _Any resource that is used or involved in the production, distribution, and consumption of goods and services.2) The dependence of two or more people or things on each other.3) Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.4) The personnel or people of a business or organization, especially when regarded as a significant asset.5) Resources that are assets and are used to make other goods and services. Examples include tools, buildings, machinery and equipment.Q4 Match each of the following words to one of the definitions that follows:a) moral, b) market place, c) influence, d) inventory,e) legal, f) economic, g) system, h) ethical,1) Where people regularly gather for the purchase and sale of provisions, livestock, and other goods.2) _The power or capacity of causing an effect in indirect or unseen ways.3) _Relating to, or based on the production, distribution, and consumption of goods and services.4) A set of things working together as parts of a mechanism or an interconnecting network.5) Adjective. pertaining to or dealing with morals or the principles of morality; pertaining to right and wrong in conduct.6) Concerned with the principles of right and wrong behavior and the goodness or badness of human character.7) Recognized by common or statutory law, as allowed and not illegal.8) A complete list of items such as property, goods in stock, or the contents of a building.9)- 4 -