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Review Business Fundamentals

Total questions: 10

Worksheet time: 3mins

Name
Class
Date
1.

Consumers need producers so they can make an income.

a)

true

b)

false

2.

We have unlimited wants but

a)

we also have unlimited needs

b)

unlimited resources

c)

limited resources

d)

we need them to survive

3.

An ethical dilemma is the same as

a)

a conflict of interest

b)

ethical behaviour

c)

a code of ethics

d)

a major problem

4.

Businesses need to be held accountable or else

a)

they could harm consumers

b)

they could harm employees

c)

they could harm the environment

d)

all of the above

5.

The price at which a good should be sold in the market is shown on a graph by the

(a)  

6.

When price increases

a)

suppliers want to make less of the product.

b)

suppliers want to make more of the product

c)

consumers demand more of the product

d)

all of the above

7.

An example of something you would find in the code of ethics for Google would be

a)

do not waste resources

b)

do not steal office supplies

c)

treat coworkers with respect

d)

all of the above

8.

A business involves the (a)   of goods or services.

9.

If I told the school board that another teacher was disrespecting students, I would be a (a)  

10.

If phones sold for $200...

a)

demand would be greater than supply

b)

supply would be greater than demand

c)

it would be the equilibrium price

d)

it would be a surplus