Business and Economic Concepts Quiz
Authored by McGowan Liberty Academy
Business
10th Grade
Used 1+ times
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45 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an entity that operates to provide goods or services?
Organization
Business
Economy
Market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person who starts and runs a business is called a(n):
Entrepreneur
Producer
Consumer
Labourer
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the act of exchanging goods or services without using money?
Trade
Barter
Specialization
Exchange
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount earned from selling goods or services is called:
Profit
Loss
Capital
Revenue
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the study of how people produce, distribute, and consume goods and services?
Economy
Business
Trade
Market
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A person or entity that produces goods or services is called a:
Producer
Consumer
Labourer
Entrepreneur
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the process of buying and selling goods or services?
Trade
Exchange
Market
Economy
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