- 1. Suzie asks her father for a new pair of red boots. Are red boots a want or a need?
A) need
B) want
- 2. Which is true of resources?
A) insurance and tourism are examples of resources
B) resources are unlimited
C) businesses and government lack resources
D) resources are limited
- 3. Which is NOT another word for ethics?
A) integrity
B) unscrupulous
C) honor
D) principles
- 4. The amount of goods that consumers are willing to buy at various prices is called?
A) demand
B) sale
C) request
D) purchase
- 5. Which is true of ethics in business?
A) Everyone is ethical nowadays.
B) Sometimes laws are needed to uphold ethics
C) Companies are not interested in ethics training.
D) Everyone agrees to the same code of ethics.
- 6. Which would most likely describe a successful entrepreneur
A) bossy
B) lazy
C) shy
D) self-starter
- 7. Which is NOT an example of a small business?
A) teen lawn care service
B) a babysitting team
C) a fast food chain
D) a delivery service consisting of ten teens with bikes
- 8. Which is NOT a factor of production?
A) capital
B) labor
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) profit
B) employment
C) fees
D) prestige
- 11. What are two basic types of economic systems
A) supply and demand
B) private enterprise and free enterprise
C) market and command
D) competition and profit
- 12. The amount of goods that producers wil provide at various prices is called the?
A) supply
B) stock
C) quantity
D) reserve
- 13. Qualities of a good leader include all of the following EXCEPT
A) authoritative
B) integrity
C) good communications skills
D) confidence
- 14. What are the three MAIN forms of business organization?
A) sole proprietorship, partnerships, and corporations
B) partnerships, corporations, and dividends
C) partner proprietorship, corporations, and sole franchise
D) corporations, proprietorship, and stockholders
- 15. A pest control company provides?
A) a service
B) a product
C) capital
D) demands
- 16. The role of a mentor is to?
A) oversee new workers
B) supervise new workers
C) council or guide new employees
D) direct new employees
- 17. What is something that an ideal leader is able to do?
A) inspire others
B) take charge
C) manage others
D) focus on specific tasks
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) equilibrium pricing
B) business owners' preferences
C) profit and competition
D) supply and demand
- 20. Which is most likely to happen when the price for a good or service is high?
A) supply increases
B) profits rise
C) competition decreases
D) demand falls
- 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) Paint
C) Pronoun
D) Preference
- 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 picture library
B) your h: drive
C) the shared folder
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) Rodney's
C) Ben & Jerry's
D) Red Cross
- 27. Which is an example of a Franchise?
A) Chick-fil-a
B) Apple
C) YMCA
D) Sony
- 28. Which is an example of a Non-Profit?
A) Chick-fil-a
B) Apple
C) Red Cross
D) Sony
- 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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