
L1 Small Business Characteristics
Quiz
•
Other
•
10th Grade
•
Medium
Ross Gibson
Used 1+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a small business?
A business that employs 20 or more employees
A business that employs 50 or more employees
A business that employs under 20 employees
A business that employs under 50 employees
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the factors of production?
Land, Labor, Capital, and Enterprise
Goods, Services, Money, and Technology
Supply, Demand, Price, and Profit
Marketing, Sales, Advertising, and Promotion
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary sector of the economy?
The sector that involves providing personal, financial, and commercial services
The sector that involves the collection or extraction of natural resources
The sector that involves converting resources into manufactured goods
The sector that involves the transfer and processing of information and knowledge
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the quaternary industry?
The industry that involves the transfer and processing of information and knowledge
The industry that involves the collection or extraction of natural resources
The industry that involves converting resources into manufactured goods
The industry that involves providing personal, financial, and commercial services
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the public sector?
Businesses owned by individuals or groups of individuals
Businesses owned by central or local government providing essential services
Businesses funded by donations, grants, and fundraising
Businesses that provide goods and services to households
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the aim of voluntary and not-for-profit businesses?
To maximize returns for their owners or shareholders
To provide goods and services not supplied by firms or the government
To combine factors of production to produce goods and services
To provide employment, innovation, and improvements to the quality of life
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the importance of small and medium-sized enterprises (SMEs) in the New Zealand economy?
They make up the majority of businesses and are the backbone of the economy
They employ the highest number of workers in New Zealand
They are more productive and successful in international markets
They pay higher wages and enjoy higher profits
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