Geo Bell Ringer 2/22

Geo Bell Ringer 2/22

8th Grade

10 Qs

quiz-placeholder

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Geo Bell Ringer 2/22

Geo Bell Ringer 2/22

Assessment

Quiz

Geography

8th Grade

Medium

Created by

Morgan Nance

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What kind of economy does the U.S. have?

Command economy

Market economy

Traditional economy

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a profit?

The money used to buy equipment to make your product

The goods and equipment needed to make your product

Money that a business has left after expenses

An economic system where the means of production are owned by citizens

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Oil would be an example of __________.

Profit

Scarcity

Labor

Natural resource

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: The law of supply states that businesses will produce more products when charged a higher price.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something is scarce when it ___________.

Is rare or low in numbers

Is plentiful and easy to access

Is provided by nature

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an entrepreneur?

Human effort, skills, and abilities used to produce goods and services

Person who organizes, manages, and assumes the risk of a business

What a company has when it is the only one selling a product or providing a service

Something you find in nature without human intervention

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Machines, buildings, and tools used to make other goods and services are ____________ goods.

consumer

capital

factor

manufactured

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