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Intro to Business Chapter

Authored by John Robinson

Social Studies

9th Grade

Intro to Business Chapter
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

If a news headline says, "Finally!!! 3 straight months of increased jobs and positive consumer confidence,"
which period on the business cycle is being reference?

Peak

Contraction/Recession

Trough

Expansion/Growth/Recovery

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

If a news headline says, "After 6 straight years of growth, is the economy at a TURNING POINT?"

Where on the business cycle is the current economy?

Peak

Contraction/Recession

Trough

Expansion/Growth/Recovery

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

If a news headline says, "3 months of consecutive job losses is negatively impacting consumer confidence,"

what period on the business cycle is being referenced?

Peak

Contraction/Recession

Trough

Expansion/Growth/Recovery

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the primary purpose of a business in a market economy?

To provide goods and services

To create jobs

To pay taxes

To support charities

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a characteristic of a sole proprietorship?

Limited liability

Owned by shareholders

Single owner

Double taxation

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the role of competition in a free market economy?

To increase prices

To limit consumer choice

To drive innovation and efficiency

To reduce quality

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which economic system is characterized by government ownership of resources?

Capitalism

Socialism

Feudalism

Mercantilism

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