Business Organization - Chapter 2 Test

Business Organization - Chapter 2 Test

9th - 12th Grade

20 Qs

quiz-placeholder

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Business Organization - Chapter 2 Test

Business Organization - Chapter 2 Test

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Nicole Berry

Used 24+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Resources are the things necessary for making only what people need.

True

False

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Every type of business needs labor resources to produce goods and provide services.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Entrepreneurial resources are different from labor resources.

True

False

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Every society has enough productive resources to produce everything people want and need.

True

False

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Two basic types of economic systems are a market economy and a demand economy.

True

False

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A shortage of resources is called ______.

reduction

threat

scarcity

limitation

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Scarcity occurs when _____.

demand exceeds supply

distribution breaks down

conservation is at an all-time high

consumers’ needs exceed wants

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