Introduction To Business Mid-term

50 Questions  I  By Macbuff9
Please take the quiz to rate it.

Business Quizzes & Trivia
Introduction to Business Test Encompasses first six weeks of class

  
Changes are done, please start the quiz.


Question Excerpt

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  What are needs considered?
A.
B.
C.
2.  What is a Global Economy?
A.
B.
C.
3.  The contest between businesses to win customers.
4.  Which of the following is a synonym for utility?
A.
B.
C.
D.
5.  In a monopoly, how many firms or businesses are involved in a particular market?
A.
B.
C.
6.  Which of the following is considered a tangible good?
A.
B.
C.
D.
7.  The Dating Game exemplified which two economic terms the most
A.
B.
C.
8.  The United States of America employs what type of economic system?
A.
B.
C.
D.
9.  What are the three things that competition leads to?
A.
B.
C.
10.  Which of the following is the best definition for alternative?
A.
B.
C.
11.  A positive incentive is best characterized as which of the following?
A.
B.
C.
12.  If total revenue was $100.00 If total cost was $35.00 Your total profit is $65.00
A.
B.
13.  Which of the following is an example of the free rider problem?
A.
B.
C.
14.  A __________________ is a person who selects, purchases, uses, or disposes of goods or services.
15.  A loss is best defined as ...
A.
B.
C.
16.  What is the free market according to Adam Smith?
A.
B.
C.
17.  Microeconomics is best described as...
A.
B.
C.
18.  What is a public want?
A.
B.
C.
D.
19.  How is a trade-off different than an alternative?
A.
B.
C.
20.  Things we must have to survive are called________________
21.  Most people have unlimited wants for goods and services.
A.
B.
22.  Which of the following is an example of public property?
A.
B.
C.
D.
23.  What do most situations in life involve?
A.
B.
C.
D.
24.  In an oligopoly, how many firms are typically involved ni a particular market?
A.
B.
C.
25.  The Soviet Union or Cuba is best described as what type of economic system...
A.
B.
C.
26.  Which of the following is the best example of opportunity cost?
A.
B.
C.
27.  Which one of the following is not an example of the factors of production?
A.
B.
C.
D.
28.  Which economist started the whole economics field?
A.
B.
C.
D.
29.  The United States utilizes a free enterprise economy.
A.
B.
30.  What are the three elements of the economic trilogy?
A.
B.
C.
D.
31.  What does the degree of competition affect the most?
A.
B.
C.
32.  A good can be physically weighed or measured.
A.
B.
33.  When your satisfaction level decreases after every use, what is that termed?
A.
B.
C.
D.
34.  What is the major goal of economics?
A.
B.
C.
35.  Private wants are held by private individuals
A.
B.
36.  What is a normative opinion in business and economics?
A.
B.
C.
D.
37.  When something is preferred to another product, it is a_______________
38.  What is one key component of Adam Smith's economic theory?
A.
B.
C.
D.
39.  How are sunk costs recovered by a business?
A.
B.
C.
D.
40.  What is a preference?
A.
B.
C.
41.  Choice in terms of economics is best explained as...
A.
B.
C.
42.  The amount of money left over after a business has paid for the cost of producing its goods and services.
43.  A service is....
A.
B.
C.
44.  As it pertains to choice, choosing is refusing.
A.
B.
45.  Things we wish we could have.
46.  Which one of the following is an alternative?
A.
B.
C.
47.  All choices have consequences both positive and negative
A.
B.
48.  S.O.L is an abbreviation for what.
A.
B.
C.
D.
49.  What is an economic plan?
A.
B.
C.
50.  How is opportunity cost best defined when it comes to economics?
A.
B.
C.
Back to top

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz
We have sent an email with your new password.