Basic business Concepts Quiz

Basic business Concepts Quiz

Professional Development

25 Qs

quiz-placeholder

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Basic business Concepts Quiz

Basic business Concepts Quiz

Assessment

Quiz

Business

Professional Development

Practice Problem

Medium

Created by

shawn George

Used 3+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three basic needs of people?

Food, water, shelter

Food, clothing, shelter

Food, medicine, housing

Clothing, money, shelter

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Activity that results in the satisfaction of our needs is called:

Direct production

Economic activity

Specialization

Barter

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People are sometimes called “economic animals” because:

They hunt for food

They are always active

They engage in economic activity

They live in communities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Early people met all their needs by themselves. This is called:

Barter

Direct production

Token money

Specialization

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A system where people only produced enough to survive is called:

Surplus economy

Money economy

Subsistence economy

Barter system

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The term “hunter-gatherer” refers to:

Early farmers

People who hunted animals and gathered plants for food

Traders who bartered goods

People who built permanent houses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The development of farming allowed early people to:

Spend less time searching for food

Stop building houses

Depend more on barter immediately

Eliminate the need for tools

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