POB 5.01

POB 5.01

Assessment

Assessment

Created by

Leanna Moody

Business

9th - 12th Grade

17 plays

Hard

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30 questions

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1.

Multiple Choice

30 sec

1 pt

An economic good or service that is scarce is one that is

is in limited supply

not made in America.

not test-marketed

readily available

2.

Multiple Choice

30 sec

1 pt

“Economic votes” are cast by consumers each time they

visit a business

make a purchase.

respond to a survey.

participate in market research.

3.

Multiple Choice

30 sec

1 pt

What determines whether an economic product is an industrial product or a consumer product?

The price of the product

The origin of the product

Who buys and uses the product

Who produces the product

4.

Multiple Choice

30 sec

1 pt

A car manufacturer receives a shipment of bolts that are going to be used in the production of automobiles. What type of industrial product would the bolts be?

Parts

Supplies

Equipment

Materials

5.

Multiple Choice

30 sec

1 pt

Which of the following statements regarding economic resources is true:

As businesses grow and become more complex, they typically require fewer resources.

Industrialized nations typically require fewer capital goods than developing countries.

Similarly sized businesses within the same industry usually use identical resources.

Natural resources, human resources, and capital goods are often referred to as factors of production.

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