
Understanding Business Basics Quiz
Authored by Michael Shumate
Business
8th Grade
Used 4+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of a business?
A place where people live
An organization that provides goods or services to satisfy needs and wants
A type of government
A form of entertainment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a good?
Haircut
Car
Teaching
Banking
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is an entrepreneur?
Someone who works for a business
Someone who starts and runs a business
Someone who buys products
Someone who teaches in a school
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to activities that satisfy people's needs and wants without producing physical objects?
Goods
Services
Economy
Business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the economy?
The study of animals
The system of how money, goods, and services are produced and used in a country
A type of business
A government agency
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a type of business?
Manufacturing
Service
Retail
Biology
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which word best describes a person who creates a new product and starts a company to sell it?
Employee
Entrepreneur
Customer
Manager
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