Chapter 2 Review

Chapter 2 Review

9th - 12th Grade

30 Qs

quiz-placeholder

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Chapter 2 Review

Chapter 2 Review

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Madison Koonce

Used 23+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Business Plan might also be called a

innovation and/or details

balance sheet and/or cash flow statement

human resource policy manual and/or bank loans

roadmap and/or pitch deck

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This stage of the entrepreneurial process is where you determine if your idea fills a void or gap in the marketplace, whether it meets a want or need:

Discovery

Resourcing

Harvesting

Business Plan

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how individuals and societies make decisions about resources, production, distribution, exchange, and consumption of goods and services, given unlimited and competing wants, and given the scarcity of resources is:

Social Science

Economics

Economic Utility

Inflation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of behavior and decision-making of individuals and businesses in an economy is:

macroeconomics

microeconomics

economic utility

economic want

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choosing between two things that cannot be had or done at the same time, which may require a compromise is a/an:

noneconomic want

opportunity cost

resource

trade-off

6.

DROPDOWN QUESTION

1 min • 1 pt

What basic questions do societies need to answer. Select THREE options.

(a)   ​ (b)   ​ (c)  

What should be produced?
For Whom are the items produced?

Where should items be produced?

Why should items be produced?

How should items be produced?

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The reality that people’s wants always exceed the resources available to fulfill those wants is:


consumption

economics

inflation

scarcity

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