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ME IA2 Prep

Authored by Whitney Peavy

Life Skills

9th - 12th Grade

Used 9+ times

ME IA2 Prep
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30 questions

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1.

MULTIPLE SELECT QUESTION

2 mins • 1 pt

______ are reasons why entrepreneurs improve the economy.

New businesses = no new employees

New technology

Self-confidence = stimulated economy

No taxes

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If there is a high demand for a product, the price for that product will ______.

Be lower

Be higher

Stay the same

None of the above

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The balance between supply and demand is called _____.

Equilibrium

Price

Quantity

Equal

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

______ change with increases and decreases in the amount produced.

Fixed costs

Opportunity costs

Variable costs

None of the above

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

_______ are costs of selecting one opportunity or investment over another.

Fixed costs

Opportunity costs

Variable costs

None of the above

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The legal form of business ownership that is owned by many people is a ­­­_______.

Sole proprietorship

Partnership

Corporation

Limited Liability Company

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The type of business risk that refers to rules and regulations associated with employee protection and environmental concerns is a _______.

Compliance risk

Operational risk

Financial risk

Strategic risk

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