Business Essentials

Business Essentials

12th Grade

15 Qs

quiz-placeholder

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Business Essentials

Business Essentials

Assessment

Quiz

Business

12th Grade

Medium

Created by

Karen Lewis

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

How many factors of production are there?

3

4

5

2

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are the factors of production?

Land, Labour, Cost and Enterprises

Land, Labour, Capitol and Enterprise

Land, Labour, Capital and Enterprise

Land, Company, Capital and Enterprise

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Needs are goods or services essential for living while Wants are goods or services which people would like to have, but which is not essential for living.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is the term that describes the shortage of good and services in a country due to the limited availability of Factors of Production (resource of productions) ?

Poverty

Famine

Scarcity

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

This term is used to cover all of the natural resources provided by nature and includes fields and forests, oil, gas, metals and other mineral resources.

Land

Soil

Sand

Space

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

This is the efforts of people needed to make products.

Energy

Time

Skills

Labour

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

This is the finance, machinery and equipment needed for the manufacture of goods.

Budget

Capital

Money

Cost

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