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BS quiz chpter 1 to 4

Authored by Aiza Khan

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10th Grade

Used 1+ times

BS quiz chpter 1 to 4
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34 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

WHAT IS A NEED?

A need is something that is essential for survival, growth, and well-being.
A need is something that is optional for survival
A need is something that is harmful for growth
A need is something that is irrelevant for well-being

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

THE BASIC ECONOMIC PROBLEM IS________.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

WHAT IS OPPORUNITY COST?

Opportunity cost is the value of the next best alternative forgone when a decision is made.
Opportunity cost is the total cost of all available alternatives
Opportunity cost is the cost of the chosen option
Opportunity cost is the same as sunk cost

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

_________ OCCURS WHEN PEOPLE AND BUSINESSES CONCENTRATE ON WHAT THEY ARE BEST AT.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is division of labour?

Division of labour is the combination of different tasks into a single job role
Division of labour is the process of assigning the same tasks to all team members
Division of labour is the elimination of specialized roles within a team

Division of labour is the specialization of cooperative labor divided into specific tasks and roles.

6.

OPEN ENDED QUESTION

5 mins • 1 pt

WHAT IS A BUSINESS?

Evaluate responses using AI:

OFF

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

what is added value?

Decrease in worth or desirability of a product or service
Unchanged value of a product or service
Value added tax on a product or service

The difference btwn the selling price of a product and the cost of raw materials used to make it.

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