The Business Landscape  - Key Concept Review

The Business Landscape - Key Concept Review

8th Grade

25 Qs

quiz-placeholder

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The Business Landscape  - Key Concept Review

The Business Landscape - Key Concept Review

Assessment

Quiz

Business

8th Grade

Easy

Created by

Brittany Bender

Used 2+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main goal of a business?

To provide free goods and services

To meet people’s needs and wants while making money

To collect taxes from customers

To prevent competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is economics the study of?

How people make choices with unlimited resources

How people make choices with limited resources

How businesses avoid making choices

How people trade without using money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between needs and wants?

A) Needs are things people enjoy, and wants are things required to survive

B) Needs are required to survive, and wants are things people would like to have

C) Needs are always free, while wants cost money

D) Wants are more important than needs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

A) A video game

B) A smartphone

C) A doctor’s appointment

D) A pair of shoes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a resource?

A) Anything used to produce a good or service

B) Only money that businesses earn

C) A product that is sold to customers

D) A type of tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an entrepreneur?

Someone who works only for a large company

Someone who takes a risk to start a business

Someone who only works for non-profit organizations

Someone who only sells products online

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do some people choose to work for others instead of starting their own business?

It is easier and offers a steady income

Entrepreneurs do not earn money

Starting a business is free and risk-free

There are no benefits to working for a company

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