Business and Economics Quiz

Business and Economics Quiz

8th Grade

10 Qs

quiz-placeholder

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Business and Economics Quiz

Business and Economics Quiz

Assessment

Quiz

Business

8th Grade

Medium

Created by

rose wanjiku

Used 3+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of a business?

To make a profit through providing goods or services

To employ as many people as possible

To spend money on advertising

To compete with other businesses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

A laptop computer

A haircut at a salon

A loaf of bread

A new smartphone

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In business, what is the term for something people must have to survive?

A luxury item

A want

A need

A preference

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor of production refers to natural resources used in creating goods?

Enterprise

Capital

Labour

Land

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the reward for the factor of production 'labour'?

Interest

Profit

Wages

Rent

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is an example of capital in business?

The business owner's skills

Factory machinery

The monthly rent payment

Employee salaries

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do we call someone who combines all factors of production and takes risks?

A manager

A supervisor

An employee

An entrepreneur

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