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TEST: INTRO TO BUSINESS CH 1 & 2

Authored by Chelsey Gilmore

Business

9th - 12th Grade

Used 2+ times

TEST: INTRO TO BUSINESS CH 1 & 2
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which is are types of economic resource?

Wants & Needs
Goods & Services
Scarcity & Surplus
Land, Labor, & Capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is another name for human resources?

Labor
People
Homies
Workers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Economic resources can also be referred to as

Factors of production
Goods and services
Wants and needs
Scarci

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each type of economies answers the three basic questions of economics __________.

the same
differently

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one basic question of economics?

What will be produced?
Who acquires what goods and services?
What resources are available?
What is the opportunity cost?

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economy has central ownership and lack of individual choice?

Market Economy
Mixed Economy
Command Economy
Traditional Economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Most countries have a mixed economy with one part of the mix being dominant.

True
False

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