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PBMF Ch 1 Review

Authored by Regina Jackson

Business

8th Grade

Used 10+ times

PBMF Ch 1 Review
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10 questions

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1.

DROPDOWN QUESTION

1 min • 1 pt

​ (a)   is anything that is bought or sold.

Product
business
profit
merchandise

2.

DRAG AND DROP QUESTION

1 min • 1 pt

​ (a)   is the difference between the ​ (b)   earned and ​ (c)   incurred by a business during a specific period of time.

Profit
income
expenses

3.

DROPDOWN QUESTION

1 min • 1 pt

A ​ (a)   is something a person must have in order to survive, such as food, clothing, and shelter.

A ​ (b)   is something that a person desires but can survive without.

need
want

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The understanding that the price of a product is determined by the relationship of the supply of a product and the demand for the product is known as the law of ________.

consumer behavior

scarcity

physics

supply & demand

5.

MATCH QUESTION

1 min • 1 pt

Match each word with the correct definition.

consumer

customers who purchase goods & services for their own use

entrepreneur

an individual or group who buys products

customer

people who start a new business or purchase an existing business

6.

HOTSPOT QUESTION

1 min • 1 pt

Select the five types of utility provided by business.

7.

MATCH QUESTION

1 min • 1 pt

Match each function of a business with the correct definition.

finance

all business activities that involve money

marketing

any activity related to making a product

production

all activities that identify, anticipate, and satisfy customer demand while making a profit

management

the process of controlling and making decisions about a business

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