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WorksheetsBusiness and Economics Quiz B
Total questions: 33
Worksheet time: 21mins
Supply and demand describe the relationship between:
Goods and services
Price and quantity
Which is an example of a service?
A haircut
A backpack
A business owned by one person is a:
Corporation
Sole proprietorship
A market economy is one where:
Individuals own and operate businesses
Religion drives production
Imports are:
Government-owned goods
Goods brought into the country
The marketing mix includes:
Supply, demand, profit, GDP
Price, product, place, promotion
A wholesaler:
Manufactures products
Buys in bulk and resells to retailers
Revenue is:
Money before expenses
Employee pay
Net pay is:
Pay after taxes
Pay before taxes
A shortage of raw materials causing production delays is a:
Interruption
Advantage
Behavioral segmentation includes grouping customers by:
Buying habits
Hobbies
Psychographic segmentation focuses on:
Location
Lifestyle and values
GDP measures the:
Profit of all businesses
Total goods and services produced
Tariffs are:
Payments to manufacturers
Taxes on imports
A mixed economy includes:
Both government and individual decisions
No economic structure
Money after paying expenses is called:
Profit
Revenue
An ethical business would:
Hide extra fees
Treat customers fairly
High consumer confidence usually causes GDP to:
Fall
Rise
If price increases and buyers purchase much less, the product is:
Elastic
Wholesale
Which document shows a business’s financial position?
Balance sheet
Logo
Specialization increases productivity because workers:
Focus on one job and improve
Work fewer hours
Marketing is mainly about:
Government regulation
Promoting and selling products
Market segmentation helps businesses:
Manufacture faster
Identify specific groups of consumers
In the Pop-Up Shop, choosing colors, fonts, and a logo relates to:
Finance
Branding
“Bring Warmth Home This Holiday” is an example of a:
Slogan
Profit plan
A pop-up shop display should be designed to:
Hide the products
Attract attention and guide customers
A target market for a holiday candle booth could be:
People who dislike scents
Teens looking for inexpensive gifts
The cost of making a candle includes:
Flyer design
Wax, wicks, jars
If each candle costs $4 to make and sells for $10, the profit is:
$6
$10
An elevator pitch should be:
Only about the logo
Short and persuasive
Match term to the definition
Import
Products purchased from another country
Target Market
The group of customers a business aims to sell to
Export
Products sold to another country
Market Research
The process of gathering information about consumers' needs and preferences
Brand Loyalty
The tendency of consumers to continue buying the same brand
Match the term to the defintion
Profit
The money made after all expenses are paid
Supply Chain
The steps a product goes through before reaching customers
Market Segmentation
The practice of dividing a market into distinct groups
Services
Intangible products offered to consumers
Branding
The process of creating a unique image for a product or business
Describe one example of an unethical business practice.
