
Understanding Profit Motive
Interactive Video
•
Business, Social Studies
•
7th - 10th Grade
•
Hard

Lucas Foster
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary reason people sell goods or services?
To gain personal satisfaction
To make a profit
To follow a passion
To contribute to the community
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating profit?
Cost minus revenue
Revenue minus cost
Revenue times cost
Revenue plus cost
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a way to increase revenue?
Lowering wages
Attracting new customers
Finding cheaper production factors
Reducing waste
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can innovation benefit consumers?
By reducing product variety
By creating better products
By increasing product prices
By limiting market competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential benefit for workers when businesses are profitable?
Higher unemployment
Lower wages
Employment stability
Fewer job opportunities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential negative practice some producers might use to increase profits?
Increasing employee benefits
Improving product quality
Using misleading marketing
Offering fair wages
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might the profit motive not encourage the production of certain medicines?
The market is too small
The production cost is low
The market is too large
The demand is too high
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