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Worksheets

G09 - BIZ Q1 Reviewer

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Which is the example of public wants?

a)

Gadgets

b)

House and Lot

c)

Car

d)

Highways

2.

The more money you make, the more ______ or ______ you want.

a)

Food & Money

b)

Demand & Supply

c)

Goods & Services

d)

Needs & Goods

3.

It is a shortage of resources.

a)

Scarcity

b)

Resource

c)

Supply

d)

Demand

4.

These are widely shared by many people.

a)

Wants

b)

Goods

c)

Services

d)

Public wants

5.

It refers to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.

a)

Scarcity

b)

Resource

c)

Supply

d)

Demand

6.

Things that add comfort and pleasure to your life.

a)

Needs

b)

Wants

c)

Services

d)

Goods

7.

All of the following are examples of needs except one.

a)

Clothing

b)

Shelter

c)

New phone

d)

Water

8.

Which of the following is an example of service?

a)

Gadgets

b)

Books

c)

Groceries

d)

Haircut

9.

It describes the total amount of a specific good or service that is available to consumers.

a)

Demand

b)

Scarcity

c)

Supply

d)

Resource

10.

Which one of the following is a need?

a)

Roller skates

b)

Food

c)

Bike

d)

Cat

11.

Things that are required in order to live are known as?

a)

Needs

b)

Wants

c)

Goods

d)

Services

12.

It refers to the willingness and ability of buyers to purchase different quantities of goods and services.

a)

Scarcity

b)

Resource

c)

Demand

d)

Supply

13.

These are things you can see and touch.

a)

Goods

b)

Wants

c)

Services

d)

Needs

14.

You buy cookies from Mrs. Jenny in the cafeteria.

a)

You hire someone to braid your hair.

b)

Mrs. Priester asks you to wash the tables.

c)

You ask a friend to wash your living carpet.

d)

You buy cookies from Mrs. Jenny in the cafeteria.

15.

Things that you can't see and touch.

a)

Goods

b)

Services

c)

Needs

d)

Wants

16.

Which is an example of want?

a)

Food

b)

Something I can live without but it's nice to have

c)

Something I need to survive

d)

Cars

17.

Highways, public libraries, shopping centers, and public parks are examples of?

a)

Public wants

b)

Private wants

c)

Investments

d)

Economy

18.

It satisfies your wants and needs for material things.

a)

Services

b)

Wants

c)

Needs

d)

Goods

19.

This is anything that people can use to make or obtain what they need or want.

a)

Demand

b)

Resource

c)

Scarcity

d)

Supply

20.

It is a document that states an initial commitment between two parties and details the basic terms and provisions of their proposed transaction.

a)

Agreement letter

b)

Education letter

c)

Request letter

d)

Letter of intent (LOI)