Ch 1 Quiz

Ch 1 Quiz

9th Grade

10 Qs

quiz-placeholder

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Ch 1 Quiz

Ch 1 Quiz

Assessment

Quiz

Business

9th Grade

Practice Problem

Easy

Created by

Alexandra Omelczuk

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

Businesses create products that add comfort and pleasure to your life. This best describes...

Wants

Needs

2.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

Businesses that perform an activity such as a mechanic fixing your car or a stylist cutting your hair are considered...

Goods

Services

3.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

What are the 4 factors of production?

Land, liberty,

Prosperity, happiness

Land, goods, services, scarcity

Land, labor, capital, money

Land, labor, capital, and entrepreneurship

4.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

Scarcity exists because these are limited...

Wants and needs

Goods

Resources

Services

5.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

These are physical items you can buy...

Goods

Services

Entrpreneurship

Opportunity costs

6.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

Jen can study for her test after school or go to work. If she decides to go to work, the opportunity cost of her decision is....

The money she could have made

The better grade she could have received from studying more

The people she could have seen at work

Spending time with friends

7.

MULTIPLE CHOICE QUESTION

10 mins • 10 pts

With every decision, we miss out on something or give something up. This is called the.....

Scarcity

Opportunity cost

Factors of production

Opportunity benefit

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