Introduction To Business Midterm Review

Introduction To Business Midterm Review

9th - 12th Grade

20 Qs

quiz-placeholder

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Introduction To Business Midterm Review

Introduction To Business Midterm Review

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Courtney Alexander

Used 14+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unemployment is the highest during a recession.

true
false

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Corporations are the most common type of business in the United States.

true
false

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tangible products you can purchase to meet your wants and needs are called goods. 

true
false

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you decide to buy a jacket instead of a concert ticket, you are making a trade-off

true
false

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Capitalism is another name for a traditional economic system. 

true
false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basic economic problem is

having unlimited wants and needs but limited economic resources
deciding what goods and services to produce
identifying the goods and services available to you
determining how to satisfy needs and wants.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An important principle of the U.S. economic system is 

the right to private property
 the freedom of choice
competition
all of the above

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