Business Studies Gr8

Business Studies Gr8

8th Grade

19 Qs

quiz-placeholder

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Business Studies Gr8

Business Studies Gr8

Assessment

Quiz

others

8th Grade

Hard

Created by

Nym Mohamed

Used 6+ times

FREE Resource

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What’s the main economic problem?

Needs

Wants

Limited resources

Unlimited wants and limited resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Needs are..

Things we like to have

Things essential for survival

Things we want

Mobile Phone

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The four factors of production are

Land, capital, employees and owner

Land, labour, Capital and Entrepreneur

Manager, labour, entrepreneur and natural resources

Land, labour, capital and entrepreneurship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two types of natural resources are

Economic resources and raw materials

Natural resources and man-made resources

Renewable and non-renewable resources

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity cost is

A choice

Wants

The next best alternative forgone in terms of a choice made

Selection between two or more commodities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic goods are divided into

Consumer goods and producer goods

Durable consumer goods and Non-durable consumer goods

Public goods and Merit goods

Economic goods and private goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Some examples or Internal stakeholders are;

Employees, managers, suppliers and government

Managers, owners, employees and supervisors

Government, employees, owner, investors

Employees, managers, investors and government

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