AS Level Business Definitions

AS Level Business Definitions

11th Grade

90 Qs

quiz-placeholder

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AS Level Business Definitions

AS Level Business Definitions

Assessment

Quiz

Business

11th Grade

Practice Problem

Easy

Created by

Mr. Bijumon P K Kuzhivilayil

Used 8+ times

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90 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a consumer good?

A product intended for personal use by consumers

A service provided by businesses to other businesses

A type of investment asset

A government policy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are consumer services?

Services provided to individuals for personal use

Products sold to businesses

Government services

Manufacturing processes

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Capital goods are defined as:

Goods used for personal consumption

Goods used in the production of other goods

Goods that are consumed quickly

Goods that are intangible

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does creating value mean in a business context?

Increasing profits

Enhancing customer satisfaction

Improving operational efficiency

All of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain added value.

Added value is the increase in worth of a product or service as a result of a particular activity.

Added value is the decrease in worth of a product or service as a result of a particular activity.

Added value is the unchanged worth of a product or service as a result of a particular activity.

Added value is the worth of a product or service before any activity.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity cost is the cost of what?

The next best alternative foregone

The total cost of all alternatives

The monetary cost of a decision

The time spent on a decision

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An entrepreneur is someone who:

works for a company

starts and runs their own business

invests in stocks

manages a team

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