Brain Squeeze (YR 7,8,9)

Business meas...

• Commerce

• Industry and Commerce

• Trade and Commerce

• Selling and buying of goods

Which of the following is not an Economic activity

• A doctor practicing

• A lawyer practicing law

• A professional cricketer playing cricket

• A student playing cricket

Where is the headquarters of the World Trade Organization located?

• Geneva, Switzerland

• Brussels, Belgium

• New York, USA

• London, UK

A good or service purchased or brought in from another country is called.

• Import

• Export

• Trade

• Negotiate

The main reason for International Business is..

• Profit

• Dancing

• Travelling

• Entertainment

Scarcity can be best defined as

• A shortage of product

• Where demand is greater than supply

• Unlimited wants v/s Limited resources

• Limited wants v/s Unlimited resources

Which of the following is a need

• Clothes

• Job

• Car

• Smart phone

Profit is equal to:

• Income minus expenses

• Receipts minus expenditures

• Inflows minus outflows

• Capital minus Cash