
INTRO TO BUSINESS UNIT 1 REVIEW

Quiz
•
Business
•
6th Grade
•
Hard
Bryson Barnes
FREE Resource
43 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ Is the activity of making profit by producing and selling consumers goods and services in exchange for money.
Business
Charity
Hobby
Donation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three reasons why a business exists? 1. ______ 2. ______3______
1. Help People 2. Make Profit, 3. Solve problems & Create value
1. Reduce competition, 2. Avoid taxes, 3. Increase unemployment
1. Destroy resources, 2. Cause pollution, 3. Limit growth
1. Increase government control, 2. Reduce innovation, 3. Limit trade
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two things that a business can offer?
Goods and Services
Money and Time
Land and Labor
Ideas and Technology
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 5 examples of a good?
Examples: Car, Book, Phone, Chair, Bread
Examples: Water, Air, Sunlight, Wind, Heat
Examples: Honesty, Kindness, Bravery, Wisdom, Patience
Examples: Running, Jumping, Swimming, Dancing, Singing
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 5 examples of a service?
Examples: Haircut, Teaching, Car repair, Banking, Cleaning
Examples: Apple, Banana, Carrot, Orange, Grape
Examples: Table, Chair, Bed, Sofa, Desk
Examples: Mountain, River, Lake, Ocean, Desert
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a consumer?
A person who purchases goods and services for personal use.
A person who only produces goods.
A person who sells goods to retailers.
A person who manages a factory.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the profit equation for a business?
Profit = Revenue - Expenses
Profit = Expenses - Revenue
Profit = Revenue + Expenses
Profit = Revenue x Expenses
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