Business in Today’s World Quiz

Business in Today’s World Quiz

11th Grade

14 Qs

quiz-placeholder

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Business in Today’s World Quiz

Business in Today’s World Quiz

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

Walaa Al-Bayaa

Used 1+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are wants?

Things we must have to survive

Things we wish we could have

Items that are necessary for daily life

Tasks done for you by people or machines

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the most basic need?

Clothing

Food

Shelter

Transportation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the opportunity cost?

The time taken to make a decision

What you give up when making a choice

The satisfaction gained from a choice

The money spent on a choice

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do businesses aim to do?

Satisfy all consumer wants

Profit from goods and services

Limit their production

Provide services for free

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is marketing research used for?

To identify potential customers

To reduce the number of goods produced

To eliminate competition

To increase production costs

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a resource?

A type of good

Anything used to make or obtain what is needed

A service provided to consumers

A type of marketing strategy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role do consumers play in business?

They set prices for goods

They manage businesses

They evaluate costs and values of products

They create products

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