Chapter 1 Assessment

Chapter 1 Assessment

10th Grade

15 Qs

quiz-placeholder

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Chapter 1 Assessment

Chapter 1 Assessment

Assessment

Quiz

Business

10th Grade

Practice Problem

Easy

Created by

KELLY R TEAKELL

Used 1+ times

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15 questions

Show all answers

1.

DRAG AND DROP QUESTION

30 sec • 1 pt

(a)   is an economic want.

Food
Shelter
Smartphone
Clothing

2.

DROPDOWN QUESTION

30 sec • 1 pt

People who purchase goods and services are called (a)  

Customers
Economists
Employees
Business people

3.

DRAG AND DROP QUESTION

30 sec • 1 pt

An organized way in which a state or nation distributes its resources and provides goods and services to the community is called: (a)  

Standard of living
Investment
Economics
Economic system

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Labor is:

Raw materials found in nature

Equipment a business uses

Any service a person does for a company

Something we desire but could ultimately live without

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of an operational business activity?

Repaying debt

Purchasing stock

Administrative duties

Providing loans to customers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a 'Product'?

A service that cannot be bought or sold

Anything that can be bought or sold to meet a customer’s want or need

A type of market

A financial asset

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is 'Net worth' defined?

The total revenue of a business

The value of a business determined by assets minus liabilities

The total assets of a business

The total liabilities of a business

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