
BE Obj. 2.01-03 Practice Questions
Authored by Maurice Tate
Business
9th - 12th Grade
Used 58+ times

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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economic good or service that is scarce is one that is
in limited supply
not made in America
readily available
not test marketed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Farms, mines, and lumber companies are examples of
builders
manufacturers
trade industries
raw good producers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A student purchased a laptop to use for homework assignments. In economic terms, this computer would be classified as a(n) __________ good.
capital
consumer
ultimate
industrial
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Each day, a restaurant sends its used linens to a laundry to be cleaned and pressed. In economic terms, the laundry service would be classified as a(n) __________ service.
consumer
ultimate
tangible
industrial
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an industrial good:
Tires for a tow truck
Matt's cell phone
Holiday flowers
Farri's home computer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bread for a family would best be classified as a(n) __________ product.
shopping
installation
specialty
convenience
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When prices increase, producers usually:
increase demand
decrease supply
increase supply
decrease profits
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