Organization of agrobusiness VFST 20-11a

What is the main purpose of business as an economic activity?

• To provide free services to the community

• To earn profits by satisfying human wants

• To produce goods without any financial gain

• To eliminate competition in the market

Types of economic activity:

• Savings, Investment, Consumption

• Production, Consumption, Distribution

• Business, profession, employment

• Capital, Labor, Land

If a cooker cooks for her children, then this is ________

• Non-economic activities

• Economic activities

• Business activities

• Profit motive

What is the primary focus of the Lean Startup method?

• Creating a perfect product before launch

• Producing a minimally viable product (MVP) and gathering customer feedback

• Expanding rapidly into multiple markets

• Developing a detailed business plan before starting

What is the role of a business model in distinguishing a product or service?

• It helps reduce production costs.

• It focuses solely on maximizing profits.

• It eliminates competition in the market.

• It provides a unique value proposition (UVP).

What is the primary function of money as a medium of exchange?

• To measure the value of goods and services

• To store economic value for future use

• To serve as a widely accepted method of payment

• To provide loans for future purchases

What does the "store of value" function mean?

• It lets you pay for things later

• It makes money easy to carry

• It helps track prices of items

• It allows you to save money for future use

How many functional forms does capital assume during circulation?

• one

• two

• three

• four

What does "circulation of capital" mean?

• The movement of money that grows in value

• Changing money for services
  

• Keeping money in a bank

• Making new products

What do variable costs depend on?

• The location of the business

• Employee satisfaction

• The price of the product

• The number of products produced