Business Terms Quiz - Week 2
Authored by Allyson Gentry
Business
8th Grade
Used 3+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which word describes the system of production, consumption, and distribution of goods and services?
Economy
Budget
Contract
Equity
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which word refers to a person who purchases goods or services?
Customer
Contract
Budget
Equity
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does a contract represent?
A plan for spending money
A formal agreement between two or more people or groups
The value of ownership in a company
The system of how goods are produced
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Who is a customer?
Someone who sells goods or services
Someone who buys goods or services from another business
Someone who creates a budget
Someone who manages a company
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is debt?
A plan for future spending
Something, usually money, that is owed or needs to be paid back
The value of ownership in a company
The system of how services are used
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the economy refer to?
A plan for spending money
The system of how money, goods, and services are made and used in a country or region
The value of ownership in a company
A formal agreement between people
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the main purpose of a contract?
To outline a budget
To formalize an agreement between parties
To increase customer base
To manage debts
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