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Chapter 1 Test Principles of Business, Finance, Marketing, Operation and Management

Authored by Michelle CARLSON

Business

9th - 12th Grade

Used 73+ times

Chapter 1 Test Principles of  Business, Finance, Marketing, Operation and Management
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25 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Your needs and wants never end.

True

False

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Products and money used in the production of goods and services are called natural resources

True

False

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The mismatch of unlimited wants and needs and limited economic resources is called the basic economic problem.

True

False

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The first step in the economic decision-making process is to evaluate the advantages and disadvantages of each choice.

True

False

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The United States could best be characterized as a command economy.

True

False

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The right of private property means you can own, use, or dispose of things of value.

True

False

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In a market economy, buying decisions are made by consumers.

True

False

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