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Entrepreneurship Vocabulary

Authored by Latoya Hickson

Computers

9th - 12th Grade

Used 5+ times

Entrepreneurship Vocabulary
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. Things that you think you must have in order to be satisfied

demand

need

want

economic resource

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. The means through which goods and services are produced

demand

need

want

economic resource

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Things that a person must have in order to survive

demand

need

want

economic resource

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. Occurs when people’s needs and wants are unlimited and the resources to produce the goods and services to meet those needs are limited

Capitalism

economic decision making

scarcity

profit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The private ownership of resources by individuals rather than by the government

Capitalism

economic decision making

scarcity

profit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. The process of choosing which needs and wants you will satisfy using the resources you have

Capitalism

economic decision making

scarcity

profit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the revenues earned by a business and the costs of operating the business

Capitalism

economic decision making

scarcity

profit

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