Intro To Business Ch. 2 Revew

Intro To Business Ch. 2 Revew

9th - 12th Grade

20 Qs

quiz-placeholder

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Intro To Business Ch. 2 Revew

Intro To Business Ch. 2 Revew

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Tracy Hahn

Used 4+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most prevalent (numerous) economy in the world is a_____

command economy

market economy

mixed economy

pure command economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity is

shortage of wants

shortage of needs

shortage of resources

shortage of ice cream

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Resources are the things necessary for making what people need and want

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Educational resources are factors of production?

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market economy, prices are set by producers that

will cover their costs and result in profit

consumers can afford

the government will allow

consumers are willing to pay

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Equilibrium price is the point where the quantity demanded is more than the quantity supplied. True or False

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of goods that producers will provide at various prices is

price

supply

scarcity

demand

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