Business Essentials Pre-Test
Authored by Darren Fichtner
Other
9th - 12th Grade
Used 30+ times
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50 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following scenarios would probably cause prices to drop?
Many companies begin producing a product in relatively high demand
A big snowstorm is approaching, and the only hardware store in town has just a few snow shovels left in stock
Half the world's diamond mines shut down production
A new snack food is very popular, and only one company produces it.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The largest producer of goods and services in the world is
Russia
China
The United States
Japan
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Generally, as the price of a product increases,
the supply curve will slope downward
consumers will be willing to purchase larger quantities of the product
demand will increase
businesses will be willing to supply larger quantities of the product
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would economists most likely classify as a need?
A battery-powered automobile
A part-time job to earn some extra money
Gasoline for a florist's delivery truck
A flat-screen television
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following addresses the economic question of how to produce?
producing more capital goods and fewer customer products
requiring individuals to complete specific types of work
growing corn instead of potato's
selling natural resources to other countries
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The primary reason business owners make investments and take risks in a private enterprise economy is to
make a profit
satisfy customer needs
develop new products
meet government requirements
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would NOT be included in GDP?
automobiles purchased
purchases of computers by government
exports to other countries
dinner preparation for your family
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