
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
goods
rivalry among businesses to sell their goods and services
wants
things you can see and touch
competition
activities provided for the satisfaction of others
needs
things that add comfort and pleasure to your life
services
things that are required in order to live
2.
MATCH QUESTION
1 min • 5 pts
Match the following
market price
limited availability of resources
entrepreneur
someone who takes the risk to create a new product
scarcity
money left over from sales after costs
profit
private ownership of resources by individuals
market economy
point where supply and demand are equal
3.
MATCH QUESTION
1 min • 5 pts
Match the following
talent
a natural, inborn aptitude to do certain things
mobility
the willingness and ability to move where jobs are
values
difference between actual and budgeted performance
expenses
the costs of operating a business
discrepancy
things that are most important to you
4.
MATCH QUESTION
1 min • 5 pts
Match the following
baby boomers
people born between 1946 and 1964
goal
a precise statement of results a business expects to achieve
corporation
a newer organization structure
matrix
a business that is a separate legal entity
innovation
an invention or creation that is brand new
5.
MATCH QUESTION
1 min • 5 pts
Match the following
more than 50%
% of jobs currently held by women
less than 1%
% of US businesses that employ more than 100 workers
50%
% of small businesses that are home-based
80%
% of US gross domestic product small businesses account for
70%
% of jobs not advertised to the public
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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