The fundamentals and principles of business 1.1.1 - 1.1.3

The fundamentals and principles of business 1.1.1 - 1.1.3

12th Grade

30 Qs

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The fundamentals and principles of business 1.1.1 - 1.1.3

The fundamentals and principles of business 1.1.1 - 1.1.3

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

George Kalindawalo

Used 1+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a role of business in society?

Providing goods and services

Contributing towards government's priorities

Avoid paying taxes

Enhancing economic security

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of business activity?

To provide goods and services at any cost

To make a loss

To supply goods and services to meet consumer demands and make a profit

To harm consumers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a factor of production?

Labour

Capital

Technology

Raw materials

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of entrepreneurship in a business?

Reducing profitability

Avoiding risks

Creating a competitive edge

Avoiding innovation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the characteristics of a competitive market economy?

Few buyers and sellers

Strong government intervention

Private ownership of factors of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the relationship between manufacturing, wholesalers, and retailers work?

Manufacturers buy from retailers

Retailers buy from manufacturers

Wholesalers sell directly to consumers

Retailers produce their own goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the characteristics of private sector organisations?

Government ownership

Limited financial resources

Private ownership

Limited competition

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