Business and Finance Quiz

What is an example of a good?

• Haircut

• Bread

• Tutoring

• Car repair

What is an example of a service?

• Clothes

• Food

• Tutoring

• Phones

A bakery providing bread is an example of:

• A service

• A good

• Both a good and service

• Neither

How do jobs play a role in finance?

• They create new products

• They help people earn money

• They manage loans

• They increase taxes

What is a sole proprietorship?

• A business owned by one person

• A business owned by shareholders

• A business owned by two or more people

• A business that avoids taxes

A partnership involves:

• One owner

• Two or more owners sharing ownership

• Shareholders owning the business

• Members avoiding flexibility

What is finance?

• A way to manage personal time

• The way businesses manage their money

• A focus on avoiding risks

• A form of community service

What is income?

• Money spent

• Money borrowed

• Money earned

• Money lost

What is profit?

• Money earned before expenses

• Money left after expenses

• Money spent during production

• A type of loan

What is a credit card?

• A way to borrow money to buy things and repay later

• A loan for big purchases

• A savings account

• A type of budgeting tool