CHAPTER 1:Introduction to Business

What is the main goal of a business?

• To sell products at a loss

• To create jobs

• To provide free services

• To earn profits

Which of the following is NOT a function of business?

• Increasing taxes

• Innovation

• Creating job opportunities

• Providing goods and services

What is 'capital' in a business?

• The customers

• The products sold

• The workers in a company

• The money needed to start a business

What is a 'sole proprietorship'?

• A business with many owners

• A business owned by one person

• A type of partnership

• A public company

What is a major disadvantage of a sole proprietorship?

• Easy to set up

• Unlimited liability

• No taxes

• Limited growth

What is a 'private limited company'?

• A business with no owners

• A business that cannot make profits

• A company that can sell shares to the public

• A common form of company in Malaysia

What is one benefit of businesses providing job opportunities?

• Less innovation

• Economic development

• Higher taxes

• Increased unemployment

What is 'innovation' in business?

• Creating new products or services

• Hiring more workers

• Increasing prices

• Selling old products

What is the role of 'information resources' in a business?

• To create profits

• To hire employees

• To sell products

• To gather data for decision-making

What is a 'partnership'?

• A business owned by one person

• A business owned by two or more people

• A type of corporation

• A business with limited liability