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WorksheetsBusiness Principles Quiz 2
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
In economics, people are said to have unlimited
a)
Needs
b)
Wants
c)
Capital
d)
Influence
2.
Not having enough resources to satisfy every need is
a)
cutback
b)
scarcity
c)
choice
d)
competitive advantage
3.
First step in the decision making process
a)
Define the problem
b)
Choose best alternative
c)
Identify the choices
d)
Evaluate Advantages
4.
Type of economic system is which government decides what to produce
a)
Market-based
b)
Traditional
c)
Mixed
d)
Command
5.
In this economy, consumers make decisions based on self-interest
a)
Command
b)
Market
c)
Mixed
d)
Traditional
6.
Eminent domain happens when government
a)
seizes private property
b)
bargains with labor
c)
Supreme Court rules
d)
reappropriates public land for private use
7.
This country has a mixed economy
a)
North Korea
b)
South Korea
c)
Sweden
d)
Hong Kong
8.
3 Economic Resources are
a)
Natural, human, technical
b)
Natural, human, capital
c)
Natural, human, environmental
d)
Natural, human, coinage
9.
Not a capital resource
a)
supplies
b)
buildings
c)
equipment
d)
petrol
10.
Stock is
a)
A small income
b)
A small wage
c)
Part of a company
d)
Part of a business plan
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