First year Business

First year Business

1st - 12th Grade

17 Qs

quiz-placeholder

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First year Business

First year Business

Assessment

Quiz

Business

1st - 12th Grade

Practice Problem

Medium

Created by

Gavin Kearns

Used 8+ times

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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an economy

money

how we spend money in a country

how goods and services make money

how goods and services are bought, sold and used in a country

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4 factors of production

Land, Labour, Money and Economy

Land, Wages, Capital and Enterprise

Land, Labour, Capital and Enterprise

Land, Labour, Profit and Enterprise

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Reward for labour

Wages

Profit

Rent

Interest

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a need

Something we can do without

Something we really want

Something we can't do without

Something we like

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Resources are S_____________

Scarce

Supply

Surplus

Super

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial cost of something is....

The choice we have

The one we don't choose

How much is left after we buy it

The price we pay for it

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity cost is...

The cost of the item

The cost of the alternative foregone

The price we pay

The one we pick if we have a choice

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