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PBMF U1 Review Questions

Authored by anayi garza

Computers

9th - 11th Grade

Used 8+ times

PBMF U1 Review Questions
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods and services are known as:

Products

Something you can't survive without

Something you desire, but you can live without

Supply and demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is entrepreneurship?

Willingness and ability to start a new business.

Work performed by people in organizations, also called human resource.

When something is given up in order to gain something else.

The value of the next best option that was not selected.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a market?

Anywhere buyers and sellers meet to buy and sell goods and services.

Anything that can be bought or sold.

Action or task that is performed, usually for a fee.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an opportunity cost?

The value of the next best option

When something is given up in order to gain something else..

Something a person must have in order to survive.

Work performed by people in organizations.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are wages?

Money earned in exchange for work

Anything that can be bought or sold.

Action or task that is performed, usually for a fee.

Products businesses use to produce other goods.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individual or group who buys products:

Customer

Entrepreneur

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

When demand is higher than the available resources.

When demand is low and resources are high.

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