- 1. Suzie asks her father for a new pair of red boots. Are red boots a want or a need?
A) want
B) need
- 2. Which is true of resources?
A) resources are limited
B) businesses and government lack resources
C) resources are unlimited
D) insurance and tourism are examples of resources
- 3. Which is NOT another word for ethics?
A) integrity
B) honor
C) unscrupulous
D) principles
- 4. The amount of goods that consumers are willing to buy at various prices is called?
A) purchase
B) demand
C) request
D) sale
- 5. Which is true of ethics in business?
A) Sometimes laws are needed to uphold ethics
B) Everyone agrees to the same code of ethics.
C) Companies are not interested in ethics training.
D) Everyone is ethical nowadays.
- 6. Which would most likely describe a successful entrepreneur
A) bossy
B) lazy
C) self-starter
D) shy
- 7. Which is NOT an example of a small business?
A) a delivery service consisting of ten teens with bikes
B) a babysitting team
C) teen lawn care service
D) a fast food chain
- 8. Which is NOT a factor of production?
A) labor
B) capital
C) natural resources
D) the marketplace
- 9. Needs are things you must have in order to survive.
A) False
B) True
- 10. The reward that motivates business to supply goods and services is?
A) prestige
B) profit
C) employment
D) fees
- 11. What are two basic types of economic systems
A) market and command
B) private enterprise and free enterprise
C) supply and demand
D) competition and profit
- 12. The amount of goods that producers wil provide at various prices is called the?
A) reserve
B) stock
C) supply
D) quantity
- 13. Qualities of a good leader include all of the following EXCEPT
A) integrity
B) authoritative
C) good communications skills
D) confidence
- 14. What are the three MAIN forms of business organization?
A) partner proprietorship, corporations, and sole franchise
B) partnerships, corporations, and dividends
C) corporations, proprietorship, and stockholders
D) sole proprietorship, partnerships, and corporations
- 15. A pest control company provides?
A) a service
B) capital
C) demands
D) a product
- 16. The role of a mentor is to?
A) direct new employees
B) supervise new workers
C) oversee new workers
D) council or guide new employees
- 17. What is something that an ideal leader is able to do?
A) inspire others
B) take charge
C) focus on specific tasks
D) manage others
A) an unlimited budget
B) unlimited wants and needs
C) a lack of goods and services
D) a shortage of resources
- 19. Which is most important in determining the price of a product or service?
A) business owners' preferences
B) equilibrium pricing
C) supply and demand
D) profit and competition
- 20. Which is most likely to happen when the price for a good or service is high?
A) supply increases
B) competition decreases
C) demand falls
D) profits rise
- 21. Saul posted a funny picture of a friend using Snapchat. He set it to disappear after 10 seconds. Is it true that only his friends on Snapchat could ever see the picture?
A) yes
B) no
- 22. The four P's of the Marketing Mix include Price, Place, Promotion
A) Product
B) Pronoun
C) Preference
D) Paint
- 23. Many employers will check a potential employee's social media sites (digital footprint) before making a hiring decision.
A) false
B) true
- 24. When you save a picture or image using Google Chrome it will be saved to?
A) the shared folder
B) the picture library
C) your h: drive
D) the Google Drive
- 25. When sharing a google document you can select up to 5 users that can edit the document.
A) false
B) true
- 26. Which is an example of a Corporation?
A) Taco Bell
B) Red Cross
C) Ben & Jerry's
D) Rodney's
- 27. Which is an example of a Franchise?
A) Apple
B) Sony
C) Chick-fil-a
D) YMCA
- 28. Which is an example of a Non-Profit?
A) Red Cross
B) Sony
C) Chick-fil-a
D) Apple
- 29. I am making a necklace that takes 10 strands of yarn and each strand is 30 inches long. How many inches of yarn will I need to purchase?
- 30. I am making a necklace that takes 10 strands of yarn and each strand is 30 inches long. How many yards of yarn will I need to purchase?
- 31. I am making a necklace that takes 10 strands of yarn and each strand is 30 inches long. How many feet of yarn will I need to purchase?
- 32. Kara worked all summer mowing lawns in her neighborhood. She want to see how much profit she has after the summer was over. She had revenues of $2,250 and expenses of $775. What is her profit?
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