Business Economics Quiz

Business Economics Quiz

7th Grade

40 Qs

quiz-placeholder

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Business Economics Quiz

Business Economics Quiz

Assessment

Quiz

Business

7th Grade

Medium

Created by

Tracy Lowe

Used 13+ times

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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of a business?

To make a profit

To provide employment

To pay taxes

To support charities

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a basic function of business?

Marketing

Finance

Management

Voting

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'supply and demand' refer to in economics?

The government's control over the economy

The relationship between available goods and consumer desire

The process of producing goods

The way businesses hire employees

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system allows for private ownership and free market competition?

Communism

Socialism

Monarchy

Capitalism

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a market force?

Government regulations

Competition between businesses

Employee skills

Business location

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does GDP stand for in economics?

Global Domestic Product

Gross Domestic Product

General Development Plan

Government Deficit Program

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What the market value of all final products produced in a country during a specific time period.?

Gross Domestic Product

National Income

Global Domestic Product

Government Deficit Program

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