Intro to Business - Chapter 2 Review Quiz

Intro to Business - Chapter 2 Review Quiz

10th Grade

14 Qs

quiz-placeholder

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Intro to Business - Chapter 2 Review Quiz

Intro to Business - Chapter 2 Review Quiz

Assessment

Quiz

Business

10th Grade

Hard

Created by

Brittany McPhillips

Used 6+ times

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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

unlimited wants and needs

a shortage of resources

a lack of goods and services

limited expenses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a factor of production?

natural resourecs

labor

capital

the marketplace

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement about natural resources is NOT true?

Natural resources can be processed to make goods.

The amount of natural resources available to a society has little effect on its economy.

Synthetic materials such as nylon can be made from natural resources.

Countries that have scarce natural resources must get them from somewhere else.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which means the same as "human resources"?

capital resources

service providers

labor resources

unskilled workers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a capital resource?

a machine used to make molded plastic toys

a customer service representative

money borrowed from a bank

the president of a company

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is most likely to profit from society's changing wants and needs?

a business with existing capital resources

a producer of goods

an entrepreneur

a business with substantial labor resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which refers to how people satisfy their needs and wants by making choices?

entrepreneurship

economics

equilibrium

opportunity

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