Chapters 1-3

Chapters 1-3

9th - 12th Grade

18 Qs

quiz-placeholder

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Chapters 1-3

Chapters 1-3

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Easy

Created by

Kyle Chappell

Used 8+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____ is the term for all activities involved in developing and exchanging products.

Business

Entrepreneurship

Economics

Corporation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Customers who purchase goods and services for their own use are called ____.

individuals

consumers

purchasers

groups

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____ utility is added when a business changes the form of a good or service to make it more useful.

Possession

Time

Form

Place

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ____ is anywhere buyers and sellers meet to buy and sell goods and services.

store

workplace

restaraunt

market

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of ____ says that the price of a product is determined by the relationship of the supply of a product and the demand for the product.

supply and demand

physics

consumer behavior

business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____ is the market value of all final products produced in a country during a specific time period.

Standard of Living

Annual Sales

Product Value

Gross domestic product

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The four components of GDP are consumer spending, business investment, government spending, and ____.

economic growth

net exports

net imports

inflation

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