POBF - 2020 Final Exam Review

POBF - 2020 Final Exam Review

9th - 12th Grade

82 Qs

quiz-placeholder

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POBF - 2020 Final Exam Review

POBF - 2020 Final Exam Review

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

L Mungin

Used 177+ times

FREE Resource

82 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do economists call the intersection of a Demand curve and a Supply curve?

Shortage

Surplus

Equilibrium Price

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

A business that begins selling winter holiday decorations in late autumn is creating __________ utility.

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following items would be considered a non-economic want:

walk

car

new clothes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Demand is the quantity of a good or service that buyers are ready to buy at a given price at a particular time.

False

True

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The three economic questions each organization must answer are:

1. What should be produced?

2. How should it be produced?

3. ___________________________?

Where should it be produced?

For whom should it be produced?

When should it be produced?

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tangible objects that can be manufactured or produced for resale are called ___________.

Goods

Wants

Needs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A local dry cleaner that also launders and presses shirts is selling ___________________.

consumer services

specialty goods

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