22-23 1A Economics & Marketing 2.2

22-23 1A Economics & Marketing 2.2

KG - 12th Grade

10 Qs

quiz-placeholder

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22-23 1A Economics & Marketing 2.2

22-23 1A Economics & Marketing 2.2

Assessment

Quiz

Other

KG - 12th Grade

Hard

Created by

NCA CTE Teachers

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Why is a knowledge of basic economic principles important for businesses?

It will help them lose more profit.

It can help them make better decisions about

meeting consumer needs.

It will prevent them from needing the services

of a financial advisor.

It can guarantee business success.

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following is the best example of a business's economic decision?

Hiring part-time employees to save on costs

Endorsing an independent candidate in state

elections

Updating directions to your office on the

company website

Following up with a customer after she

exchanged an item

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following is NOT a factor of production?

Entrepreneurship

Human capital

Land

Money

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In most businesses, what is the most costly factor of production?

Entrepreneurship

Land Capital

Human Capital

Capital Stock

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is the role of the entrepreneur in the modern economy?

To preserve natural resources

To create jobs

To generate wealth

To take big risks

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If a customer shops at your store because it is on his

way home from work, which utility is involved?

Place

Form

Possession

Time

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which condition is a result of open competition in a free market system?

Government regulation

Higher quality goods

Higher prices

Poor customer service

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