wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Intro to Business and Economics- DH

Total questions: 58

Worksheet time: 28mins

Name
Class
Date
1.
What is scarcity? 
a)
Giving something up to have something else
b)
Extra cost of production
c)
The condition that results form having unlimited wants with limited resources
d)
Rise in general level of prices and workers need more money
2.
What is choice?
a)
The act of picking or deciding 
b)
The best option possible
c)
When something is very good
d)
When someone has no say in a matter
3.
Which of the following is NOT a natural resource?
a)
Oil
b)
Water
c)
Car
d)
Air
4.
Which of the following IS a capital resource?
a)
Wood
b)
Computer
c)
Labor
d)
Knowledge
5.
My business makes tacos and maps. If I spend all my time making tacos, what is my opportunity cost? 
a)
Tacos
b)
Maps
6.
A business with one owner
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
d)
Monopoly
7.
A business with 2 directly involved owners
a)
Sole proprietorship
b)
partnership
c)
corporation
d)
monopoly
8.
A business with multiple owners that are not directly involved
a)
Sole proprietorship
b)
partnership
c)
corporation
d)
monopoly
9.
When all aspects of the economy are determine by a central figure
a)
Command
b)
Market
c)
Mixed
d)
Traditional
10.
Combines public and private businesses 
a)
Command
b)
Market
c)
Mixed
d)
Traditional
11.
Decisions in the economy are based on buyer/seller choices
a)
Command
b)
Market
c)
Mixed
d)
Traditional
12.
What happens when demand is bigger than supply?
a)
Deflation
b)
Surplus
c)
Demand
d)
Shortage
13.

The gross national product of a country would be studied in:

a)

Microeconomics

b)

Macroeconomics

c)

Business relations

14.

Roads, ports, internet networks, airports are examples of

a)

human capital

b)

infrastructure

c)

land

d)

labor

15.

Economics can be defined as ________________.

a)

the science of decision making

b)

the study of human behavior

c)

the science of buying and selling

d)

the study of unlimited resources

16.

A bank teller is an example of a _____________.

a)

Capital resource

b)

Natural resource

c)

Human resource

17.

Beef would be classified as ___________.

a)

Human resource

b)

Natural resource

c)

Capital resource

18.
The making, buying and selling of goods and services
a)
economics
b)
inflation
c)
market
d)
barter
19.
A person who buys goods and services
a)
consumer
b)
entrepreneur
c)
resource
d)
currency
20.
The place where goods and services are exchanged
a)
barter
b)
currency
c)
market
d)
resource
21.

Which of these things is a "need" and not a "want"?

a)

shoes to keep your feet warm & protected

b)

a really nice house/apartment to live in

c)

going to an elite college or prep school

d)

a smartphone with data/internet access

22.
The making, buying and selling of goods and services
a)
economics
b)
inflation
c)
market
d)
barter
23.
Which of the following is correct?
a)
A need is necessary for survival
b)
Examples of capital resources are water, iron, air, or gold
c)
Human resources are also called people
d)
Services are things you can buy, like ice cream or textbooks
24.
A cell phone is a need for most people in 2015
a)
True
b)
False
25.
Which is an example of a service?
a)
Smart Board
b)
Hair stylist
c)
Piece of paper
d)
Homeless man
26.
Which is are types of economic resource?
a)
Wants & Needs
b)
Goods & Services
c)
Scarcity & Surplus
d)
Land, Labor, & Capital
27.
What is another name for human resources?
a)
Labor
b)
People
c)
Homies
d)
Workers
28.
Things that you can see and touch are
a)
Wants
b)
Services
c)
Goods
d)
Needs
29.
How many steps are in the economic decision making process?
a)
3
b)
5
c)
6
d)
7
30.
When you go to a movie, make a deposit at the bank, get a haircut, take a swimming lesson, use your telephone, or ride a bus, you are using services.
a)
True
b)
False
31.
Which is a step in the decision making process?
a)
Choose
b)
Ask for another opinion
c)
Look at your resources
d)
Wait
32.
Economic resources can also be referred to as
a)
Factors of production
b)
Goods and services
c)
Wants and needs
d)
Scarci
33.
I have 7 students and only 5 cookies. The cookies are
a)
Sad
b)
Scarce
c)
Wants
d)
Services
34.
The economic resource used to make a desk is
a)
Natural & Capital Resource
b)
Human Resources
c)
Labor & Capital Resources
d)
Land, Labor, & Capital Resources
35.
Which is a want?
a)
Water
b)
Food
c)
Milk
d)
Love
36.

A ____________ is anything that can be bought and sold.

a)

consumer

b)

profit

c)

utility

d)

product

37.

The difference between a good and a service is _________.

a)

A good is an action that can be performed where a service is a physical item that can be touched.

b)

A good is a physical item that can be touched where a service is an action that is performed.

c)

There is no difference between the two.

d)

A good is something bought often where a service is rarely purchased.

38.

Customers who purchase goods and services for their own use are known as _____________.

a)

customers

b)

consumers

c)

products

d)

businesses

39.
Two people or organizations involved in a transaction.
a)
exchange
b)
focus groups
c)
target market
d)
marketing mix
40.
Developing and maintaining satisfying exchange relationships between businesses and consumers.
a)
marketing
b)
focus groups
c)
target market
d)
exchange
41.
A small group of 8-15 people who share their opinions on products being researched by a company
a)
focus groups
b)
target market
c)
exchange
d)
market
42.
This image is an example of which marketing function in a
a)
distribution
b)
marketing-information management
c)
pricing
d)
promotion
43.
This poster of the Mustang evolving over the years, best represents which marketing function?
a)
product service management
b)
pricing
c)
marketing-information management
d)
promotion
44.
What marketing function does this picture best represent?
a)
selling
b)
product/service management
c)
financing
d)
distribution
45.
This picture best represents which marketing function?
a)
promotion
b)
product/service management
c)
financing
d)
marketing-information management
46.
A business handing out surveys to customers is an example of which marketing function?
a)
marketing-information management
b)
product/service management
c)
promotion
d)
pricing
47.

Money that remains after a business has paid for the expenses of running the business.

a)

Competition

b)

Marketing

c)

Franchise

d)

Profit

48.

Contest between businesses to win customers' business and loyalty

a)

Needs

b)

Competition

c)

Marketing

d)

Partnership

49.

Items that would be nice to have, but are not necessary.

a)

Needs

b)

Wants

50.

Items necessary for existence, such as clothing, food, and shelter.

a)

Needs

b)

Wants

51.

A person who uses goods or services. Many times they are also the customer (AKA: purchaser).

a)

Competition

b)

Accounting

c)

Consumer

d)

Sole Proprietorship

52.

Management is...

a)

The activities that deal with the hiring, firing, training and other personnel (employee) issues.

b)

The process of leading and directing all or part of an organization.

c)

The process of creating, promoting, and presenting a product to the consumers.

53.

The process of developing, installing, and implementing computer information systems and applications. IT includes the support and maintenance of computer hardware and software.

a)

Information Technology

b)

Computers

c)

Internet

d)

Human Resources

54.

The process of creating, promoting, and presenting a product to the consumers.

a)

Competition

b)

Partnership

c)

Information Technology

d)

Marketing

55.

A Sole Proprietorship is...

a)

A business owned by two or more people

b)

A business owned by only one person.

c)

A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross.

d)

A company that does business and has business facilities in many countries, such as Coca Cola.

56.

A Partnership is...

a)

A business considered separate from the owners of the business by law. The owners are the stockholders.

b)

A contract between a parent company and a franchisee to use the name and sell the goods or services of the parent company, such as KFC.

c)

A business owned by only one person.

d)

A business owned by two or more people.

57.

A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross.

a)

Franchise

b)

Sole Proprietorship

c)

Non-profit organization

d)

Multinational Corporation

58.

A business considered separate from the owners of the business by law. The owners are the stockholders.

a)

Partnership

b)

Sole Proprietorship

c)

Corporation

d)

Non-profit organization

Similar Resources on Wayground

Organization and Management Quarter II

60 questions

Organization and Management Quarter II

quiz

Worksheet

•

12th Grade

Unit 7 Review

54 questions

Unit 7 Review

quiz

Worksheet

•

9th - 12th Grade

Computer Apps Exam 2019 Part I

60 questions

Computer Apps Exam 2019 Part I

quiz

Worksheet

•

9th - 12th Grade

Unit 6 Credit Review

62 questions

Unit 6 Credit Review

quiz

Worksheet

•

12th Grade

End of year 9 Assessment- Business

55 questions

End of year 9 Assessment- Business

quiz

Worksheet

•

8th - 9th Grade

AS BUSINESS (CIE) UNIT 2

54 questions

AS BUSINESS (CIE) UNIT 2

quiz

Worksheet

•

12th Grade

VT5_Promoción de bienes inmuebles

58 questions

VT5_Promoción de bienes inmuebles

quiz

Worksheet

•

10th Grade - Professi...

Modelo Territorial del Estado Español

60 questions

Modelo Territorial del Estado Español

quiz

Worksheet

•

12th Grade - University