Intro to Business- Chapter 1 Test Review
Authored by Deda Rush
Specialty
9th - 12th Grade
Used 464+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All economic resources have a limited supply.
True
False
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Things that are required in order to live are known as wants.
True
False
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Buildings, equipment and supplies are examples of natural resources.
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A person who buys and uses goods and services is called a consumer.
True
False
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Communism refers to the private ownership of resources by individuals rather than by the government.
True
False
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the final step of the decision-making process?
review your decision
act on your choice
make a decision
define the problem
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Who owns the economic resources in a market economy?
business people and entrepreneurs but not consumers
the tribal elders
the people of the country
the government
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