
Semester 1 Review
Authored by Mary Landers
Business
9th - 12th Grade
Used 18+ times

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20 questions
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1.
MATCH QUESTION
1 min • 5 pts
Match the following
wants
rivalry among businesses to sell their goods and services
needs
things that are required in order to live
services
things that add comfort and pleasure to your life
goods
things you can see and touch
competition
activities provided for the satisfaction of others
2.
MATCH QUESTION
1 min • 5 pts
Match the following
market economy
point where supply and demand are equal
entrepreneur
someone who takes the risk to create a new product
market price
limited availability of resources
profit
private ownership of resources by individuals
scarcity
money left over from sales after costs
3.
MATCH QUESTION
1 min • 5 pts
Match the following
expenses
difference between actual and budgeted performance
talent
the willingness and ability to move where jobs are
discrepancy
the costs of operating a business
values
things that are most important to you
mobility
a natural, inborn aptitude to do certain things
4.
MATCH QUESTION
1 min • 5 pts
Match the following
innovation
a business that is a separate legal entity
baby boomers
people born between 1946 and 1964
matrix
an invention or creation that is brand new
goal
a precise statement of results a business expects to achieve
corporation
a newer organization structure
5.
MATCH QUESTION
1 min • 5 pts
Match the following
70%
% of US gross domestic product small businesses account for
50%
% of jobs not advertised to the public
80%
% of US businesses that employ more than 100 workers
more than 50%
% of jobs currently held by women
less than 1%
% of small businesses that are home-based
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who can purchase goods and services?
individuals
businesses
neither individuals or businesses
both individuals and businesses
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basic economic need?
not having enough resources to satisfy every need
having too many wants and not enough needs
unlimited resources and unlimited needs
limited needs and unlimited resources
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