Intro to Business

Intro to Business

7th Grade

8 Qs

quiz-placeholder

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Intro to Business

Intro to Business

Assessment

Quiz

Other

7th Grade

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Created by

Mikayla McMullen

Used 50+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individual or group who buys a product

customer

market economy

wages

profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system where the economic resources are privately owned by individuals rather than the government.

capitalism

law of supply and demand

capital

standard of living

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A physical item that can be touched.

wage

systematic decision-making

opportunity cost

good

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Customers who purchase goods and services for their own use.

trade-off

scarcity

consumer

wages

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The term for all the activities involved in developing and exchanging products.

law of supply and demand

wages

traditional economy

business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The organized way in which a nation chooses to use its resources to create goods and services.

want

entrepreneurship

economic system

market economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All the tools, equipment, and machinery used to produce goods or provide services.

traditional economy

market

labor

capital

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