Search Header Logo

Entrepreneurship - Ch.2 Review

Authored by Christopher Grace

Business

9th - 12th Grade

Used 1+ times

Entrepreneurship - Ch.2 Review
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1.    The equilibrium price is

a.  the price set by the government

a.   the price at which supply equals demand

a.  the price at which exports equal imports

a.   the price set by the foreign exchange rate

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

    Profit is beneficial to entrepreneurs because

profit builds wealth and financial independence

profit is the equilibrium quantity on a supply and demand curve

profit is a barrier to international trade

profit is the answer to one of the fundamental questions of economics

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

    A market economy is also called

socialism

capitalism

free enterprise system

capitalism and free enterprise system

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The profit motive is

the money left over after expenses are subtracted from sales

the economics of one unit

a reason entrepreneurs take on business risks

profit calculated as a percentage of expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements about competition is false?

competition motivates entrepreneurs to introduce new products to consumers

competition between suppliers drives prices upward

competition between consumers benefits suppliers

competition occurs between suppliers and between consumers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Importing and exporting are activities primarily associated with

nonprofit organizations

the profit motive

the economics of one unit

the global economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economics of one unit is a calculation of

the equilibrium quantity on a supply curve

how many items an entrepreneur has for sale

the profit or loss associated with a unit of sale

foreign demand for an entrepreneur’s product

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?