Intro to Business - Test Review - Chapters 1-3

Intro to Business - Test Review - Chapters 1-3

10th Grade

50 Qs

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Intro to Business - Test Review - Chapters 1-3

Intro to Business - Test Review - Chapters 1-3

Assessment

Quiz

Business

10th Grade

Easy

Created by

Trent Thompson

Used 58+ times

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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is not always easy to determine the products and services that are needs and those that are wants.

True. People and businesses have different uses for products and services.

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would an economist most likely classify as a need?

gasoline

a tv

a part-time job to earn extra money

a high school diploma

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An example of a natural resource is

sunlight

fishing net

computer programmer

money

4.

OPEN ENDED QUESTION

3 mins • 1 pt

List the three types of economic resources.

Evaluate responses using AI:

OFF

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The basic economic problem is that consumers have too many products and services to choose from.

False. The basic economic problem is satisfying unlimited wants and needs with limited resources.

True

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The decision-making process is best to use when

you already know the choice you will make.

you have adequate time to identify and analyze several choices.

groups rather than individuals are making a choice.

you don't have enough money to pay for any of the choices.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

John has two hours before having to go to his part-time job. He is deciding between studying for a math exam and taking a nap. If John chooses to take a nap, the opportunity cost of his decision is

the rest he is getting

the score he will earn on the math exam

the wages from his part-time job

all of the above

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