Principles of BMF Mid Term Review

Principles of BMF Mid Term Review

10th - 12th Grade

70 Qs

quiz-placeholder

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Principles of BMF Mid Term Review

Principles of BMF Mid Term Review

Assessment

Quiz

Life Skills

10th - 12th Grade

Easy

Created by

jane doe

Used 5+ times

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70 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The term for all activities involved in developing and exchanging products

Business

Entrepreneurship

Economics

Corporation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

__________utility is added when a business changes the form of a good or service to make it more useful

Posession

Time

Form

Place

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anywhere buyers and sellers meet to buy and sell goods and services

store

workplace

restaurant

market

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the income earned and the expenses incurred by a business during a specific period of time

sales

profit

expenses

costs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A science that examines how goods and services are produced, sold, and used is called

economics

social studies

biology

chemistry

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of _________ says that the price of a product is determined by the relationship of the supply of a product and the demand for the product

supply and demand

physics

consumer behavior

business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The market value of all final products produced in a country during a specific time period

standard of living

annual sales

product value

gross domestic product

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