Economics Review Quiz

What made Jeff Bezos billions of dollars?

• creating a chain of stores with inexpensive goods that became a ton of supercenters

• creating an entertainment studio focusing on cartoons that became a multi-billion dollar industry

• selling books online that turned into Amazon

• hosting successful talk shows that became a major production company

Our needs are the first thing to consider when -

• making a budget

• increasing demand

• looking at profits

• making cartoons

If I'm selling muffins and the bakery next door is selling muffins and the sales are low for both of us, it means we have a low -

• expense

• supply

• budget

• demand

If I want to outsell the bakery next door and we both have muffins, I should -

• bake fewer muffins

• lower the price of my muffins

• bake more muffins

• raise the price of my muffins

Which is NOT true about Walt Disney?

• He started working from his parent's garage.

• He believed people should use their imagination.

• He wanted to bring people laughter.

• He had an entertainment studio and amusement parks.

If you sell ice cream, what do you have after you sell all of your ice cream and pay for the items you needed to make it?

• scarcity

• profit

• expenses

• cost

Henry Ford became a rich businessman by -

• starting a tv production company

• selling ice cream

• selling goods online

• selling the first U.S. cars

Selling goods, selling services, and working at a job are all ways to -

• save money

• donate money

• earn money

• spend money

Who believed he should be committed to his business, treat his people well, and sell low cost goods?

• Walt Disney

• Sam Walton

• Oprah Winfrey

• Jeff Bezos

Which is an example of donating money?

• Buying clothes at Target

• Working 40 hours a week for Chipotle

• Setting aside 20% of my paycheck in savings

• Giving money to the Tarrant County Food Bank