Business Concepts Quiz

Business Concepts Quiz

7th Grade

14 Qs

quiz-placeholder

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Business Concepts Quiz

Business Concepts Quiz

Assessment

Quiz

Other

7th Grade

Easy

Created by

Becklee Simpson

Used 9+ times

FREE Resource

14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you describe someone who is an Entrepreneur?

A person who works for a company

A person who starts and runs their own business, taking on financial risks in hopes of earning a profit

A person who manages a team

A person who invests in stocks

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Customer Service is what?

The process of manufacturing products

The support and assistance a business provides to its customers before, during, and after purchasing a product or service

The act of selling products

The method of advertising products

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a business is using Marketing what does that look like?

The activities a business uses to promote and sell its products or services, including advertising and market research

The process of creating new products

The act of hiring employees

The method of reducing costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Revenue?

The total amount of money a business earns from selling goods or services before any expenses are subtracted

The profit after all expenses

The amount of money spent on advertising

The cost of goods sold

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you describe the word Profit?

The total sales of a company

The financial gain a business makes after subtracting all the costs and expenses from its revenue

The amount spent on marketing

The total revenue before expenses

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Budget is another word for?

A plan for managing income and expenses over a certain period of time to ensure financial stability

The total income of a business

The amount spent on salaries

The cost of production

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Finance is?

The management of money, including activities like budgeting, saving, investing, and borrowing

The process of creating a budget

The act of selling products

The method of reducing expenses

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