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- 1. Multiple Choice
Who starts a business?
inventor
congressman
president
entrepreneur
- 2. Multiple Choice
What is left after the business pays for everything it uses to provide goods and services.
cash
capital
profit
resource
- 3. Multiple Choice
Who are the people who buy a good or service?
manager
employee
consumer
entrepreneur
- 4. Multiple Choice
Which is NOT a factor of production?
land
profit
labor
capital
- 5. Multiple Choice
The factor of production "land" is something that comes from nature - a natural resource. Which of the following is not an example of "land"?
trees
water
soil
money
- 6. Multiple Choice
The factor of production "labor" are the people who do the work. Which is not an example of labor?
employee
managers
entreprenuer
factory worker
- 7. Multiple Choice
The factor of production "capital" is the equipment, tools, and machines workers use to produce goods and services. Which is not an example of capital?
truck
money
packaging materials
employer
- 8. Multiple Choice
If you are an entrepreneur, you will
take a risk
spend all of your savings
borrow from investors
alll of the above
- 9. Multiple Choice
Who lends money in order to earn money?
entrepreneurs
investors
employees
consumers
- 10. Multiple Choice
A good is something a person can buy. Which is not an example of a good?
cell phone
car
shoes
teacher
- 11. Multiple Choice
A service is something someone provides. Which is not an example of a service job?
mail man
teacher
factory worker
beatician
- 12. Multiple Choice
What is the amount of a product offered for sale?
demand
good
service
supply
- 13. Multiple Choice
What is the need for a product or service that people are willing to pay for?
good
supply
demand
specialty
- 14. Multiple Choice
Laborers or human resources are people who do work. Which is an example of labor?
make goods with their hands
make phone calls
write articles
all of the above
- 15. Multiple Choice
Goods are things people buy. Which is an example of a good?
computers
games
television
all of the above
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