
Topic 1
Quiz
•
Business
•
University
•
Hard
Esther Rachel
Used 4+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following best defines a business?
A non-profit organization providing volunteer services
An economic activity that involves the production, distribution, and exchange of goods and services
A government body that regulates laws
A financial institution for saving money
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Needs are different from wants because needs are:
Only available in stores
Luxury items we desire
Essential for survival like food and shelter
Unnecessary for daily life
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following is an example of a capital good?
A smartphone
A washing machine
A delivery van used by a company
A packet of chips
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
True or False: Revenue is calculated as Revenue = Profit - Expenses.
True
False
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Match the business function to its primary responsibility:
1-Demand generation, 2-Product delivery, 3-Employee management, 4-Budgeting
1-Inventory, 2-Promotion, 3-Product design, 4-Training
1-Financial records, 2-Recruitment, 3-Supply chain, 4-Customer service
1-Customer service, 2-Marketing, 3-Product testing, 4-Procurement
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following is an external stakeholder?
Employee
Manager
Shareholder
Customer
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which market structure is characterized by many sellers offering similar but slightly differentiated products?
Monopoly
Oligopoly
Perfect Competition
Monopolistic Competition
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