IBT Unit 1 Quiz

What is the primary goal of businesses according to the text?

• Corporate social responsibility

• Employee welfare

• Profit maximization

• Customer satisfaction

Which of the following is NOT a type of business mentioned?

• Multinational corporations

• Large government agencies

• Small enterprises

• Non-profit organizations

What is one of the economic challenges facing contemporary businesses?

• Stable inflation rates

• Technological disruption

• Increased consumer spending

• Lack of competition

Which company is given as an example of a multinational corporation?

• Zappos

• FedEx

• Apple

• Walmart

What does CSR stand for in the context of business objectives?

• Corporate Sales Revenue

• Customer Service Relations

• Corporate Social Responsibility

• Customer Satisfaction Ratings

Which strategy involves entering foreign markets to diversify revenue streams?

• Localization

• Innovation and differentiation

• Global expansion

• Cost leadership

What is a key element of business that refers to tangible products?

• Profit motive

• Services

• Market demand

• Goods

Which of the following is an example of a company focusing on employee welfare?

• Amazon

• Coca-Cola

• Google

• Nestlé

What is one of the principles of classroom engagement mentioned?

• No entry after 10 minutes

• Absence requires valid proof

• Use of phones is always allowed

• No participation in discussions

Which of the following is a method for businesses to remain competitive?

• Limiting customer feedback

• Forming strategic alliances

• Ignoring market trends

• Reducing product quality