Difference between the revenues earned by a business and the cost of operating the business.
Economics Quiz

Quiz
•
Business
•
10th Grade
•
Medium
Sydney Smith
Used 15+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Profit
Supply
Demand
Opportunity Cost
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity of a good or service that consumers are willing to buy at a given price.
Demand
Supply
Profit
Needs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The quantity of a good or service a producer is willing to produce at different prices.
Supply
Demand
Profit
Wants
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Value of the next-best alternative.
Opportunity Cost
Profit
Demand
Needs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to the resources used to produce goods and services?
Economic Resources
Profit
Wants
Opportunity Cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the amount of a product that producers are willing to sell at various prices?
Supply
Demand
Profit
Needs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the amount of a product that consumers are willing to purchase at various prices?
Demand
Supply
Profit
Wants
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