Principles of Business Unit 3 S2 Final
Quiz
•
Computers
•
12th Grade
•
Easy
Elizabeth Cordero
Used 2+ times
FREE Resource
74 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of a business?
To provide jobs
To earn profit by meeting customer needs
To pay taxes
To make regulations
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a factor of production?
Land
Labor
Money
Entrepreneurship
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the economic term for the next best alternative given up when making a choice?
Opportunity cost
Marginal benefit
Scarcity
Utility
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which market structure has only one seller and no close substitutes?
Perfect competition
Oligopoly
Monopoly
Monopolistic competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If demand increases and supply remains the same, what will happen to the equilibrium price?
It will decrease
It will increase
It will stay the same
It will become zero
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which equation shows how to calculate profit?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is a service business?
Car manufacturer
Grocery store
Law firm
Clothing retailer
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