Enterprise

Which one of the following best explains business activity?

• Using resources to make goods and services that workers need

• Using factors of production to supply resources for customers

• Using resources to make products that meet customers needs

• Making factors of production to satisfy customer requirements

Which of the following is NOT a factor of production?

• Labor

• Customer

• Capital

• Land

A business could 'add value' by :

• making higher profits

• employing more workers

• using more expensive materials and keeping the selling price low

• using materials more efficiently

Which one of the following is a common problem faced by most entrepreneurs?

• Too many different sources of finance to choose from

• A large number of costumer to serve from the day the business is set up

• Premises that are too near the city center

• Inadequate finance to buy capital equipment

Which of the following is a common problem faced by most entrepreneurs?

• Committed

• Unskilled

• Shy

• Cautious

In which ONE of the following business activities would you MOST expect a NEW entrepreneur to be successful in today's business world?

• Aircraft manufacturing

• Banking

• Taxi services

• Oil exploration

When transformation of inputs to outputs takes places to produce goods and services is called.....

• opportunity cost

• added value

• creating value

• daily cost

Opportunity cost happen because of....

• unlimited needs

• limited wants

• unlimited resources

• limited resources

Which one is NOT the aims of social enterprise?

• make a difference to society with a clear mission

• reinvest profit for their social purpose

• create profit to be invested in another business

• gain income from selling goods and services, not from donation

The bottom line of economic or financial performance in social enterprise is.....

• long term effect for the environment

• revenue

• increasing employment

• recycle furniture