What is the primary purpose of a business?

Business Essentials: Understanding Products, Needs, and Economic Concepts

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To eliminate competition
To create a monopoly
To increase government revenue
To combine factors of production to make products
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a tangible product?
Banking
Shoes
Tourism
Insurance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a need according to the business context?
Water
A designer watch
A luxury car
A vacation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a want?
Provided by nature
Limited and necessary
Unlimited and based on personal taste
Essential for survival
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main cause of scarcity in economics?
Excessive production
Unlimited resources
Limited wants
Limited resources and unlimited wants
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a factor of production?
Capital
Land
Labor
Technology
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role does an entrepreneur play in business?
Manufacturing goods
Consuming products
Taking risks and organizing production
Providing natural resources
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