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Unit Two Quiz

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

What a company declares the first day they decide to sell stock

a)

Initial Public Offering (IPO)

b)

The Law of Scarcity

c)

Needs vs. Wants

d)

Opportunity Cost

2.

What a company wants to raise when they issue an IPO?

a)

Interest

b)

Awareness

c)

Appreciation

d)

Capital

3.

How many companies are in the Dow Jones Industrial Average?

a)

30

b)

400

c)

500

d)

5000

4.

How many companies are in the S&P 500?

a)

30

b)

400

c)

500

d)

5000

5.

Which company is most likely in the Dow Jones?

a)

Chips

b)

McDonalds

c)

Scotty's Pizza

d)

YMCA

6.

Money, Time and Resources are considered this:

a)

Services

b)

Goods

c)

Needs

d)

Scarce

7.

Schools, Police, Fire Department are considered these:

a)

Services

b)

Goods

c)

Needs

d)

Scarce

8.

The benefit of one economic choice over another economic choice?

a)

Opportunity Cost

b)

Scarcity

c)

Goods

d)

Services

9.

A person who turns a good idea into a business?

a)

Entrepreneur

b)

Producer

c)

Consumer

d)

Shareholder

10.

The production, consumption and distribution of goods and services?

a)

Scarcity

b)

Opportunity Cost

c)

Economics

d)

Supply and Demand

11.

When Supply is High and Demand is Low, what happens to Price naturally?

a)

Goes Up

b)

Goes Down

c)

Stays the Same

12.

When Demand is High and Supply is Low, what happens to Price naturally?

a)

Goes Up

b)

Goes Down

c)

Stays the Same

13.

What happens to Profits when Supply and Demand are Equal?

a)

Nothing

b)

Equilibrium (Profits)

c)

Something Terrible

d)

Bankruptcy

14.

The most popular form of business in America? (Over 70% of businesses are this kind)

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Non Profit

15.

This type of business has an unlimited life:

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Non Profit

16.

This type of business shares their profits with all their owners:

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Non Profit

17.

This business is set up not to make money, they also don't pay property taxes either.

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Non Profit

18.

Less than 20% of all workers are Entrepreneurs, what percent of all the millionaires are Entrepreneurs?

a)

20%

b)

40%

c)

50%

d)

67%

19.

What percent of all small businesses fail within the first 5 years?

a)

10%

b)

30%

c)

50%

d)

90%

20.

The skills, education and work ethic within an individual?

a)

Needs vs. Wants

b)

Supply and Demand

c)

Human Capital

d)

Opportunity Cost