Year 10 Business Test 1

Year 10 Business Test 1

10th Grade

30 Qs

quiz-placeholder

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Year 10 Business Test 1

Year 10 Business Test 1

Assessment

Quiz

Business

10th Grade

Easy

Created by

Megan Hughes

Used 4+ times

FREE Resource

30 questions

Show all answers

1.

DROPDOWN QUESTION

1 min • 1 pt

Demand refers to the willingness and ​ (a)   of buyers to purchase goods

ability
credit
opportunity cost
scarcity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Law of Supply states that

As price increases quantity supplied increases

As price increases quantity supplied decrease

As price increases quantity demanded decreases

As price increases the happier you get

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four factors of production?

Land, labor, capital, and entrepreneurship

Water, wind, solar, and natural gas

Food, shelter, clothing, and healthcare

Education, entertainment, transportation, and communication

4.

OPEN ENDED QUESTION

3 mins • 2 pts

Briefly (approx. 2 sentences) define the following:

The economic problem

Evaluate responses using AI:

OFF

5.

OPEN ENDED QUESTION

3 mins • 2 pts

Briefly (approx. 2 sentences) define the following:

An Economic System

Evaluate responses using AI:

OFF

6.

OPEN ENDED QUESTION

3 mins • 2 pts

Briefly (approx. 2 sentences) define the following:

Price Equilibrium

Evaluate responses using AI:

OFF

7.

OPEN ENDED QUESTION

3 mins • 2 pts

Briefly (approx. 2 sentences) define the following:

Market Economy

Evaluate responses using AI:

OFF

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