Intro to Business: Unit 1

Intro to Business: Unit 1

1st - 12th Grade

12 Qs

quiz-placeholder

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Intro to Business: Unit 1

Intro to Business: Unit 1

Assessment

Quiz

Business

1st - 12th Grade

Medium

Created by

Tyler Kraus

Used 2+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

No business can produce goods or services without

marketing research

resources

values and goals

advertising

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Opportunity costs

must be associated with a monetary value

should not be considered when making decisions

will never be associated with monetary value

do not need to be associated with a monetary value

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Inflation makes it easier to

keep money in a savings account for retirement expenses

create a monopoly

plan for the future and make decisions

all the above are correct

none of these are correct

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A monopoly may be allowed to exist

without question in any situation

only if all other business in the same industry approve it

only if they agree to pay a portion of their profits to government officials

if it benefits instead of hurts customers

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The principle that producers will generally supply more of an item at a higher price refers to

law of shortage

equilibrium price

market

law of supply

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A surplus may occur

after a sudden unexpected decrease in demand

when a product grows in popularity

when there is a price decrease but no other changes

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

One example of an intermediary is

medical personnel

a clothing wholesaler

an automobile assembly line worker

an apple orchard

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