Intro Economics

Intro Economics

2nd - 9th Grade

50 Qs

quiz-placeholder

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Intro Economics

Intro Economics

Assessment

Quiz

2nd - 9th Grade

Medium

Created by

Whitney Spillers

Used 6+ times

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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the revenue that a company brings in from selling goods and services and the cost of generating this revenue is called

profit

gross margin

accounts receivable

cost of goods sold

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ultimately, the goal of any business is to satisfy the needs of its _____.

employee

customers

owners

creditors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gigi's Cupcakes produces goods that are

tangible

intangible

services

mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person who buys goods and services

consumer
entrepreneur
resource
currency

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individuals who come up with a new idea for a good or service, then they make it a reality

resource
human resources
consumer
entrepreneur

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something we use from nature

natural resource
human resource
capital resource
entrepreneur

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What economy is where the government has total control of the economy. Businesses are not privately owned.

Command
Traditional
Mixed
Market

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