
Principles of Business Quiz 1

Quiz
•
Professional Development
•
Professional Development
•
Medium

Paula A-H
Used 3+ times
FREE Resource
60 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Land, Labour, Capital are factors of production that a new hairdressing business will require.
line
flow
functional
line and staff
True
False
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Labor refers to...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
the tools, equipment, and factories used in production of goods and services.
The "gifts of nature" or natural resources not created by human effort.
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Explain how a supermarket could add value to the food and other stock it buys in.
By advertising in the local newspaper certain brands and the way items are placed on the shelves
The location of the supermarket can also add value if it is more convenient than others.
All is correct.
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is an entrepreneur?
Someone who has set up their own business
Someone who is employed
Someone who doesn't work
Someone who works from home
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Capital refers to...
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
the tools, equipment, and factories used in production of goods and services
individuals who start a new business or bring a product to market
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What challenges does an entrepreneur have?
drive
responsibility
money
all of the above
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Land includes...
the tools, equipment, and factories used in production of goods and services
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
individuals who start a new business or bring a product to market
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