BC2 - Chapter 1 Review

BC2 - Chapter 1 Review

9th - 12th Grade

34 Qs

quiz-placeholder

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BC2 - Chapter 1 Review

BC2 - Chapter 1 Review

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Dusti Burrows

Used 6+ times

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34 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The equilibrium price is represented by the point where a product’s supply and demand curves intersect.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________ is the primary goal of business.

Service
Profit
Innovation
Quality
Strategy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses differ from nonprofit organizations in that a business's focus is on

profit.
goods.
price.
charity.
fund-raising.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is an intangible product?

a movie DVD
a kitten
perfume
a music concert
jewelry

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Vidor hired an attorney to help him draft a purchase and sale agreement for his new home. The home is an example of a product that is a(n)

idea.
service.
tangible item.
process.
intangible good.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is a tangible product?

an automobile
a movie viewing
a haircut
a music concert
a business conference

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement regarding nonprofit organizations is accurate?

They provide services but not goods.
They have a responsibility to shareholders to earn money.
They have the fundamental goal of growing market share.
They utilize skills related to management, marketing, and finance.
They do not include social causes.

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