
Business Basics Quiz
Authored by Aspen Farmer
Other
9th - 12th Grade
Used 2+ times

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50 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The main goal of most businesses is to:
Provide free services
Increase competition
Make a profit
Avoid paying taxes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a good definition of “economics”?
Study of money only
Study of human behavior in groups
Study of how people use limited resources to satisfy unlimited wants
Study of history
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT a factor of production?
Land
Labor
Capital
Competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between revenues and expenses is called:
Assets
Liabilities
Profit
Equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an example of a service business?
Clothing manufacturer
Furniture store
Hair salon
Farm
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which business structure gives the owner complete control but unlimited liability?
Sole proprietorship
Partnership
Corporation
Franchise
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Two or more people owning and running a business together is a:
Corporation
Partnership
Franchise
Cooperative
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