Gr. 9 Business: Chapter 1 & 2

Gr. 9 Business: Chapter 1 & 2

9th Grade

18 Qs

quiz-placeholder

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Gr. 9 Business: Chapter 1 & 2

Gr. 9 Business: Chapter 1 & 2

Assessment

Quiz

Business

9th Grade

Hard

Created by

Anke Nieuwoudt

Used 8+ times

FREE Resource

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is the best definition of the "economic problem"?

People who do not have enough money

There are not enough resources to satisfy people's unlimited wants

There are not enough wants for the unlimited resources to satisfy

There are too many factors of production

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a factor of production?

Oil reserves

Factory buildings

Skilled labour

Music CDs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If I buy a book for $10, then the opportunity cost is:

everything else I could have bought with the $10

$10

the benefit lost from not being able to consume the next best option

the benefit gained from buying the book

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Making choices is necessary in all economic systems because:

there are so many products that we cannot use them all at once

the government has so much money that it does not know what to do with it

there are so many resources compared to people's needs that we have to choose which ones not to use

there are so many wants compared to scarce resources that we have to decide what to produce

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Division of labour can be defined as:

workers specialise on just one task and become more effecient at it

workers become specialists in all jobs

all firms only have one worker so jobs are divided between the firms

no workers are employed as machines do all the work

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One of the drawbacks to specialisation is that:

output and efficiency falls

workers spend time on training to do several different jobs

workers can become bored through only concentrating on one job

no machinery is used which saves on business costs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One of the benefits of specialisation is:

output and efiiciency increases

workers are able to undertake a range of tasks

no machinery is used which saves on business costs

workers do not have to spend time training to do a particular task

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