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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 7 - 8.

Multiple Choice Questions

1. What is "profit margin"?
(a) Sales plus all operating costs divided by the number of sales. The result is a ratio.
(b) Sales plus value-added and goodwill divided by costs. The result is a whole number.
(c) Sales multiplied by costs divided by costs. The result is a round number.
(d) Sales plus all operating costs divided by the number of sales. The result is a ratio.

2. What competition is Jessie making a project for in Chapter 2?
(a) The Science Fair.
(b) The Rotary Club.
(c) Habitat for Humanity.
(d) The Animal Rescue Team.

3. What does it mean when a business "goes global"?
(a) To set up an international business.
(b) To expand one's market beyond the immediate area.
(c) To expand one's market to more than one country.
(d) To change the location of the business.

4. Why do Evan and Scott's customers not buy lemonade when they come from a specific direction?
(a) Because his sister, Jessie, and their friend Megan Moriarty have a stand that sells to them first.
(b) Because the weather gets colder, and people do not want icy lemonade.
(c) Because they hear that their lemonade is not good.
(d) Because they are stopping at the park to rest.

5. During this first venture, in Chapter 3, how many cups do Evan and Scott sell and at what cost?
(a) 10 cups at $2 a piece.
(b) 10 cups at $1 a piece
(c) 14 cups at $0.50 cents a piece.
(d) 16 cups at $0.50 cents a piece.

Short Answer Questions

1. Who gave Evan $10 for his birthday?

2. On Saturday, what does Evan say to Jessie?

3. What pictures does Jessie draw to show Megan how much money they can make?

4. What was the main issue for Jessie during Friday's lemonade stand?

5. What is one argument that occurs between Evan and Scott?

(see the answer key)

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