2.05 Factors Affecting Profit - CLASSWORK

2.05 Factors Affecting Profit - CLASSWORK

9th Grade

16 Qs

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2.05 Factors Affecting Profit - CLASSWORK

2.05 Factors Affecting Profit - CLASSWORK

Assessment

Quiz

Business

9th Grade

Practice Problem

Medium

Created by

Fran Clark

Used 2+ times

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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential benefit of businesses competing with each other?

Decreased consumer choice

Increased prices

Meeting consumer needs faster

Reduced product quality

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does profit allow businesses to offer benefits?

By reducing costs

By increasing taxes

By providing financial resources

By limiting employee growth.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one way profit can be used to improve products?

By reducing innovation

By investing in development

By cutting research funding

By limiting consumer feedback

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is risk involved in calculating profit?

Risk is not involved in profit calculation.

Risk affects the potential for profit.

Risk increases the total expenses.

Risk decreases the total income.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Name two benefits profit provides business owners.

Motivation and satisfaction.

Loss and debt.

Risk and uncertainty.

Taxes and regulations.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to a business without profit?

It can only last a short while.

It will thrive and expand.

It will have unlimited resources.

It will not need to pay employees.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is profit important for businesses?

It allows businesses to meet consumer needs and provide employment.

It increases the total expenses.

It decreases the total income.

It is not important for businesses.

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