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Business Organization - Chapter 2.1 Quiz

Authored by Nicole Berry

Business

10th Grade

Used 41+ times

Business Organization - Chapter 2.1 Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A lack of the resources needed to go into producing goods and services is called _____.

abundance

deficiency

insufficiency

scarcity

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The economic resources needed to make a society’s goods and services are called factors of _____ .

economy

production

scarcity

society

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Raw materials from nature are called _____ resources.

environmental

natural

physical

renewable

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

People who are paid to make goods and services are called _______ resources.

capital

human

labor

natural

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Money used to produce goods and services is a(n) _______ .

asset resource

capital asset

capital resource

physical asset

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Individuals who start and direct businesses to produce goods and services are called ________ resources.

entrepreneurial

global

labor

virtual

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When dealing with scarcity, it is important to identify the best way to use the item that is ________.

in demand

in short supply

most expensive

readily available

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