Week 28 Quiz

What is "the money it costs to run a business"?

• Income

• Profit

• Expenses

• Production cost

What is profit?

• The money left after paying for the goods

• The money left after all business expenses are paid

• The initial investment in the business

• The total amount of money earned from sales

If a cup of lemonade costs $0.60 to make and is sold for $0.80, what is the PROFIT?

• $0.10

• $0.20

• $0.30

• $0.40

What would be the LOSS if the cup of lemonade was sold at $0.50?

• $0.10 loss

• $0.20 loss

• No loss

• $0.30 loss

If a cup of lemonade cost $.60 to make and you sold the lemonade for $1.00 what would happen?

• You would make a profit of $0.20

• You would make a profit of $0.30

• You would make a profit of $0.40

• You would have a loss of $0.10

What did Sam Walton do AFTER working as a management trainee for J.C. Penney?

• He started his own business called Walton's 5&10.

• He became a professor at the University of Missouri.

• He worked for the government.

• He retired from his career.

Why was Wal-Mart successful?

• High prices for exclusive products.

• Employee ownership of the stores.

• Low prices and high-quality service.

• Selling only brand-name goods.

What did Annie Turnbo Malone make using her chemistry skills?

• A new type of lemonade.

• Hair products for African American women.

• A new car engine.

• A virtual intelligence processor.

What was Mikaila Ulmer's innovation or product that became popular?

• A new type of car.

• A lemonade stand using a family recipe with local honey.

• A hair product company.

• A technology company.

What is the main reason Henry Ford's cars were able to be produced in a shorter time?

• He used more expensive materials.

• He had a large number of workers.

• He introduced the assembly line.

• He outsourced the production.