AICE Business Ch. 1

AICE Business Ch. 1

9th - 12th Grade

13 Qs

quiz-placeholder

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AICE Business Ch. 1

AICE Business Ch. 1

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Allison Gerber

Used 22+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Increasing the difference between the cost of bought-in inputs (materials) and the selling price of finished goods is

creating value

adding value

added value

profit

2.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

An individual who has the idea for a new business, starts it up and carries most of the risks but benefits from the rewards.

Intrapreneur

Manager

Entrepreneur

CEO

3.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

The resources needed by business to produce goods or services.

Capital Goods

Labour

Enterprise

Factors of Production

4.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

If a university chooses to build a football stadium, then the new library becomes a(n)________________.

liability

risk

opportunity cost

obsolete

5.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

A limitation of a business plan is that...

it is costly to create

it can lead entrepreneurs to be inflexible

it forces the owner to think seriously about the proposal

it does not provide a clear plan of action

6.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

The physical goods used by industry to aid in the production of other goods and services, such as machines and commercial vehicles.

Capital Goods

Land

Enterprise

Factors of Production

7.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Increase in gas prices and inflation are just two ways in which a car company could be impacted by the dynamic business environment:

True

False

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