Business and Economics: Pre-Test

Business and Economics: Pre-Test

8th Grade

16 Qs

quiz-placeholder

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Business and Economics: Pre-Test

Business and Economics: Pre-Test

Assessment

Quiz

Social Studies

8th Grade

Hard

Created by

Chloe Lyons

Used 7+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business?

is the branch of knowledge concerned with the production, consumption, and transfer of wealth

goods and/or services

an organisation, enterprise or business engaged in the production and trade of goods and services, usually for profit

not something we can physically touch, but it is usually something we value

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What is economics?

the branch of knowledge concerned with the production, consumption, and transfer of wealth

studies the decisions made by individuals, households, businesses, governments and other groups about how scarce resources are allocated in attempting to satisfy unlimited needs and wants

The system of buying, selling and using goods and services by all members of society and the careful management of money, supplies, and materials, to ensure that this cycle can continue to meet the needs and wants of society

All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define a NEED?

Something we want

Is not needed for survival

A good or service that is desired in order to provide satisfaction to the user, but which is not necessary for survival or to meet the basic standard of living in a community

A good or service that consumers consider necessary to maintain their standard of living

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define a WANT?

A good or service that consumers consider necessary to maintain their standard of living

Something we need

A good or service that is desired in order to provide satisfaction to the user, but which is not necessary for survival or to meet the basic standard of living in a community

Needed for survival

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a NEED?

Food

Housing

Mobile Phone

Education

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a WANT?

Entertainment

Shopping

Hygiene

Social Media

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of a good?

Not something we can physically touch, but it is usually something we value.

Tangible items that satisfy needs and wants – they can be seen and touched. They can be bought from shops and stores such as supermarkets, departments stores and fast food outlets.

Used to produce goods and services that satisfy needs and wants

They must be satisfied if life is to continue

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