Entrepreneurship 1 - 4.02 Vocabulary

Entrepreneurship 1 - 4.02 Vocabulary

9th Grade

15 Qs

quiz-placeholder

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Entrepreneurship 1 - 4.02 Vocabulary

Entrepreneurship 1 - 4.02 Vocabulary

Assessment

Quiz

Business

9th Grade

Medium

Created by

Darlene Smith

Used 4+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the competitive bidding process?

A series of sequential steps taken by purchasing specialists

A method of collecting price quotes from suppliers vying for an order or job

The buying of goods and services for a business

A change in the shape or appearance of an object

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'credentials' refer to?

A promise made to the consumer about product satisfaction

Information about a person’s or business’s skills, abilities, and qualifications

A formal, printed record of a sale

Intangible activities that are performed by other people for money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a guarantee in the context of consumer products?

A type of product that changes the shapes or forms of materials

A ratio of net profit after taxes divided by net sales

A business that buys consumer goods or services and sells them to the ultimate consumer

A promise made to the consumer that a product’s purchase price will be refunded if the product is not satisfactory

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of an invoice?

To provide a detailed description of standards and requirements

To record the sale including all necessary information such as the buyer, seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

To outline the terms of delivery, payment information, warranty and guarantee information, and other details as needed for a service

To form a business agreement to order goods

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a 'make-or-buy decision'?

The act of determining whether to produce a needed part or purchase it from a supplier

A method of collecting price quotes from suppliers

A printed record of a sale

A change in the shape or appearance of an object

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main goal of negotiation in business?

To ensure that products are manufactured in various shapes or forms

To meet specific needs or wants through an agreement with another party

To buy goods and services for a business

To establish and describe detailed requirements

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'profit margin' represent?

The process of buying goods and services for a business

The ratio of net profit after taxes divided by net sales

A promise made to the consumer about product satisfaction

A change in the shape or appearance of an object

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