Principles of Business Quiz 1

Principles of Business Quiz 1

Professional Development

60 Qs

quiz-placeholder

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Principles of Business Quiz 1

Principles of Business Quiz 1

Assessment

Quiz

Professional Development

Professional Development

Medium

Created by

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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