Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
EBM S1 Review
Test Description: Strand 1 Review
Instructions: Answer all questions to get your test result.
1) The concept that no one can can everything they want. Individuals and societies have to balance wants and needs with limited resources.
A
Demand
B
Supply
C
Opportunity Cost
D
Scarcity
2) Tangible Products - something you can touch that can be exchanged for money
A
Goods
B
Services
C
Wants
D
Needs
3) Intangible Products - things performed for you in exchange for money
A
Wants
B
Services
C
Goods
D
Demand
4) Things used to make goods and/or services
A
Goods
B
Services
C
Demand
D
Resources
5) Everything contained on (or in) the earth
A
Human Resources
B
Business Resources
C
Natural Resources
D
Capital Resources
6) People who work/labor at a business
A
Human Resources
B
Business Resources
C
Capital Resources
D
Natural Resources
7) Assets used to make goods and services
A
Natural Resources
B
Business Resources
C
Human Resources
D
Capital Resources
8) Tools, Money, Cars, Computers are examples of...
A
Human Resources
B
Capital Resources
C
Business Resouces
D
Natural Resources
9) Owned by many stockholders, pays taxes on profits, has limited liability
A
Sole Proprietorship
B
Franchise
C
Non-Profit
D
Corporation
10) Owned by two or more people. Relatively easy to start. Partners share the liabilities and the profits.
A
Partnership
B
Sole Proprietorship
C
Franchise
D
Corporation
11) The cost of an alternative that must be forgone (given up) in order to pursue a certain action.
A
Demand
B
Scarcity
C
Wants
D
Opportunity cost
12) The amount of goods or services a business is will to make or offer at specific prices.
A
Opportunity Cost
B
Law of Supply
C
Law of Demand
D
Capital Resources
13) The amount of good or services that customers are willing to buy at various prices
A
Law of Supply
B
Law of Demand
C
Equilibrium
D
Resources
14) The point where the demand line and the supply line meet.
A
Demand
B
Supply
C
Balance
D
Equilibrium
15) Moral principles that govern a person's or a group's behavior
A
Wants
B
Needs
C
Ethics
D
Laws
16) If something is permitted by law it is.....
A
Illegal
B
Moral
C
Ethical
D
Legal
17) The exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.
A
Logo
B
Copyright
C
Trademark
D
Patent
18) A symbol, word, or words legally registered or established by use as representing a company or product.
A
Jingle
B
Trademark
C
Patent
D
Copyright
19) A license conferring a right or title for a set period to make, use, or sell an invention.
A
Patent
B
Copyright
C
Trademark
D
Slogan
20) Owned by one person. Owner must pay for everything needed for the business. Owner has unlimited liability.
A
Sole Proprietorship
B
Partnership
C
Franchise
D
Corporation
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?