Chapter 1 Review
Authored by Katherine Adams
Business
8th Grade
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30 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Anywhere a business exchange takes place:
Customer
Market
Scarcity
Business
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Money that a business has left over after all the expenses and costs of running the business are paid.
Capitolism
Service
Profit
Market
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An economic system where the economic resources are privately owned by individuals rather than the government.
Capitalism
Service
Scarcity
Product
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Anything that can be bought and sold.
Market
Product
Service
Factor of production
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When demand is higher than the available resources.
Economics
Business
Service
Scarcity
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An individual or group who buys products.
Business
Customer
Profit
Product
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
An action or task that is performed, usually for a fee.
Profit
Factors of production
Customer
Service
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