NEW
Font size
WorksheetsSemester 2 Business Test B
Total questions: 35
Worksheet time: 18mins
Supply and demand describe the relationship between:
Price and quantity
Imports and exports
Which is a service?
A haircut
A candle
A business owned by one person is a:
Sole proprietorship
Corporation
A market economy is one where:
Individuals make business decisions
Government controls all business
Imports are:
Goods brought into a country
Goods shipped out of a country
The marketing mix includes:
Product, price, place, promotion
Supply, demand, GDP
A wholesaler:
Buys in bulk and resells to stores
Sells directly to customers
Revenue is:
Money earned before expenses
Money left after expenses
Net pay is:
Pay after taxes
Pay before taxes
A supply chain interruption causes:
Delays and shortages
Lower prices
Behavioral segmentation groups customers by:
Buying habits
Where they live
Psychographic segmentation focuses on:
Lifestyle and values
Age and income
GDP measures:
Total goods and services produced
Total population
Tariffs are:
Taxes on imports
Discounts for shoppers
A mixed economy includes:
Government and individual decisions
Only government control
Profit is:
Money left after expenses
Money before expenses
Ethical businesses:
Treat customers fairly
Lie to customers
High consumer confidence causes GDP to:
Rise
Fall
If buyers stop purchasing when price rises, demand is:
Elastic
Inelastic
A balance sheet shows:
Financial position
Advertising message
Products bought from another country are called:
Imports
Exports
Money earned before expenses is:
Revenue
Profit
Money left after expenses is:
Profit
Revenue
The group a business wants to sell to is:
Target market
Supply chain
Steps a product goes through before reaching customers:
Supply chain
Branding
Logo, colors, and identity of a business:
Branding
Advertising
Actions people perform for pay:
Services
Goods
Physical items you can touch:
Goods
Services
Sensitivity to price change:
Elasticity
Profit
Grouping customers by similarities:
Market segmentation
Target market
What is the purpose of booth design?
Attract customers
Hide products
What helps customers remember a product?
Branding
Accounting
Why do businesses choose prices carefully?
Cover costs and earn profit
Confuse customers
What is an example of a selling strategy?
Greeting customers
Ignoring customers
What step comes first in business?
Branding the product
Selling the product
