Understanding Production Concepts

Quiz
•
Business
•
8th Grade
•
Medium
Selina Reid-White
Used 2+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between needs and wants?
Wants are always more important than needs.
Needs are luxuries; wants are necessities.
Needs are essential for survival; wants are non-essential desires.
Needs can be bought; wants cannot be purchased.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a need: food, luxury car, or smartphone?
food
designer handbag
gaming console
yacht
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are wants in the context of economics?
Wants are basic needs for survival in economics.
Wants are limited to physical goods only.
Wants are mandatory expenses that everyone must incur.
Wants are non-essential desires that enhance quality of life in economics.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do needs influence consumer behavior?
Needs only affect luxury purchases.
Needs influence consumer behavior by driving the decision-making process for purchases.
Consumer behavior is solely influenced by advertising.
Needs have no impact on consumer behavior.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identify one example of a good.
laptop
smartphone
desktop computer
tablet
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identify one example of a service.
Car wash
Haircut
Grocery shopping
Movie ticket
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two main types of production?
Primary production and secondary production
Agricultural and industrial production
Tertiary production and quaternary production
Manufacturing and distribution
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