FORM 1 BUSINESS REVISION

select three reasons why people start business

• to make a profit

• to provide goods and services

• to keep one self occupied or busy

• for the spirit of adventure

Which of the following is false?

• One reason for the failure of small businesses is the lack of managerial experience

• One reason for the failure of small businesses is that most entrepreneurs are younger than 25 years old

• One reason for the failure of small businesses is negligence

• One reason for the failure of small businesses is weak control systems

Which of the following is not a secondary level of production?

• Construction industry

• Manufacturing industry

• Extraction industry

• Processing industry

identify 3 occupations which fall under extraction in pimary level of production.

• fishing

• lumbering

• teaching

• mining

Secondary industries are further divided into:

• Construction

• Manufacturing

• Service

• All of the above

What is the name given to the standards of moral behavior?

• Legality

• Loyalty

• Integrity

• Ethics

Business studies as a subject is composed of topics drawn from various disciplines such as

• Commerce

• Accounting

• Production

• Economics

• Office practise

The surrounding conditions in which the business operates are called....

• Business Environments

• Business Conditions

• Business contacts

• Environments

Influences that come from within the business are in the

• macro environment

• operating environment

• external environment

• internal environment

 

Political and legal influences, societal influences, economic conditions, technological issues, CSR and global issues are all part of which environment?

• internal

• macro

• exterial

• micro