Business and Economics Questions

Business and Economics Questions

8th Grade

40 Qs

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Business and Economics Questions

Business and Economics Questions

Assessment

Quiz

Financial Education

8th Grade

Medium

Created by

Alison Hay

Used 1+ times

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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What do the letters in SMART for SMART goal stand for?

Specific, Measurable, Achievable, Relevant, Time-bound

Simple, Meaningful, Action-oriented, Realistic, Timely

Strategic, Motivational, Attainable, Reliable, Tangible

Significant, Manageable, Ambitious, Reasonable, Trackable

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Where a business is concerned, what exactly is profit?

The total revenue generated by the business

The difference between total revenue and total expenses

The total expenses incurred by the business

The total assets owned by the business

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What type of business goals are there?

Financial goals

Operational goals

Strategic goals

All of the above

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is a characteristic of good entrepreneurs?

Lack of vision

Risk aversion

Strong leadership skills

Inability to adapt

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What does a business need to achieve a goal?

A clear strategy

More employees

Higher taxes

Less competition

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the definition of innovation?

A new method, idea, product, etc.

A traditional way of doing things

A repeated process

A historical event

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following best describes competitive advantage?

A unique feature that allows a company to outperform its competitors

A strategy to increase production costs

A method to reduce employee turnover

A plan to expand into new markets

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