Business Foundations Chapter 1 Review

Business Foundations Chapter 1 Review

9th - 12th Grade

29 Qs

quiz-placeholder

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Business Foundations Chapter 1 Review

Business Foundations Chapter 1 Review

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Nancy Harris

Used 51+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

All goods or services produced by an economy requires

a government

the four factors of production

scarcity

opportunity cost

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This type of economy is based on customs and traditions.

none of these

market

command

traditional

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Supply and demand determine what is produced in this type of economy.

command economy

traditional economy

market economy

none of these

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This occurs when supply exceeds demand.

shortage

surplus

price floor

price ceiling

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This is the degree in which demand is affected by the price.

price ceiling

price floor

surplus

demand elasticity

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Insurance companies, brokerage firms, and investment bankers are examples of these.

banks

financial markets

depository institutions

non-depository institutions

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This provides the means for purchasing and selling securities.

financial market

bank

incentive

economy

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