Rapid Fire - Silver Quiz 01

Select the answer which describe a business accurately

• Any economic activity which could satisfy human needs and wants

• Essential things to be fulfilled in order to live

• Anything which satisfy human needs and wants

• Process rendered for social welfare

What is the basis of exchanging goods and services?

• Direct production

• Trade

• Barter System

• Industrial Revolution

Among the objectives of as business “ generating employment “ is important to the business because

• As a function of social welfare

• To take various advantages from talents of individuals to the business

• For employee welfare

• To reduce unemployment

An employee welfare function which is not performed by a Business is

• Providing uniforms

• Providing food

• Providing employment

• Transport facilities

An example for a service providing business is,

• Company which sells processed food and beverages

• Retail Company

• Automobiles Manufacturing Company

• Furniture Manufacturing Company

The answer which contains the factors of productions is,

• Land, Entrepreneurship, Organizers, Labour

• Organizers, Land, Owners, Capita

• . Entrepreneurship, Capital, Owners, Land

• Capital, Labour, Entrepreneurship, Land

Is not a feature of Services,

• Being able to store

• Variation of quality according to supplier

• Being invisible

• Getting discharged after one is used

The service of a doctor is a .........1......... and the stethoscope is a .........2........ Select the correct answer for above blanks 1 & 2 respectively.

• service, good.

• need, want.

• good, service

• want, good.

Select a commodity manufacturing business.

• insurance institutions.

• retail businesses

• beauty saloons.

• chair manufacturing businesses.

Select the answer which is related to the factor of production "Land".

• forest resource , soil

• forest resource , soil

• soil, buildings

• minerals, cash