chapter 1,2,3 foundation of business

chapter 1,2,3 foundation of business

1st - 5th Grade

26 Qs

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chapter 1,2,3 foundation of business

chapter 1,2,3 foundation of business

Assessment

Quiz

Business

1st - 5th Grade

Practice Problem

Medium

Created by

Salasiah Bahrin

Used 57+ times

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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for all activities involved in developing and exchanging products?

Corporation

Economics

Entrepreneurship

Business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between income earned and expenses incurred by a business is called

Sales

Money

Profit

Time

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Something a person must have to survive.

iPhone X

Need

Service

Want

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system where the economic resources are privately owned by individuals rather than the government.

Competition

Standard of Living

Capitalism

Economic System

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The economic resources a nation uses to make goods and supply services for its population.

Standard of Living

Scarcity

Competition

Factors of Production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four Functions of Business?

Form, Place, Time, Information, Possession

Production, Finance, Marketing, Management

Traditional, Command, Market, Mixed

Supply and Demand, Profit Motive, Competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This factor of production is also called natural resources.

Land

Labor

Capital

Entrepreneurship

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