PoB Unit 5 Review

PoB Unit 5 Review

9th - 12th Grade

•

30 Qs

quiz-placeholder

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PoB Unit 5 Review

PoB Unit 5 Review

Assessment

Quiz

•

Business

•

9th - 12th Grade

•

Practice Problem

•

Medium

Created by

Joanne Caratelli

Used 253+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which occurs when the supply of individuals who are able and willing to work diminishes?

Capital goods become unlimited.

Capital goods become limited.

Human resources become limited.

Human resources become unlimited.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of an economic service?

car stereo

tennis shoes

baseball glove

concert ticket

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Adrian and Bailey own a salon. Adrian is a nail technician and Bailey is a cosmetologist. Adrian gives Bailey a pedicure. Bailey gives Adrian a haircut. They do not pay money for the services provided. What does this demonstrate?

exchange

rationing

scarcity

trade-off

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A local dry cleaner that also launders and presses shirts is selling:

industrial supplies.

specialty goods.

tangible items.

consumer services.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business that begins selling winter holiday decorations in late autumn is creating what type of utility?

time
place
form
possession 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Equilibrium price of a good or service is determined by trial and error and exists when:

research shows what the market will tolerate.

the amount supplied is equal to the amount demanded.

businesses total their costs and markup.

businesses compute the average selling price in the area.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The usefulness of a product to consumers is referred to as product:

scarcity

utility

allocation

consumption

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