Chapter 1 - Basic Economic Concepts

Chapter 1 - Basic Economic Concepts

9th - 12th Grade

8 Qs

quiz-placeholder

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Chapter 1 - Basic Economic Concepts

Chapter 1 - Basic Economic Concepts

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Julie Kramersmeier

Used 2+ times

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8 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which is an example of a want?

Basic Meal

Water

Smart Phone

Shelter

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which is a product (good)?

Mowing a lawn

A book

Changing Oil in a car

Styling hair

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a need?

Food

Clothing

Shelter

All are examples of needs.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tasks that businesses perform for consumers are called?

Services

Wants

Needs

Goods

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The contest between businesses to win customers.

Profit

Competition

Non-profit

Business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The money left over after a business has paid the cost of providing its goods and services.

Profit

Competition

Business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Commercial activity that seeks profit by providing goods or services to others in exchange for money.

Profit

Competition

Business

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