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Unit 1.1 What is Business

Authored by Nor Abdullah

Business

Professional Development

Used 2+ times

Unit 1.1 What is Business
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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The process of producing a particular good or service that is worth more than the cost of the resources used to produce it.

Adding value

Reminding

Exchange

Informing

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A decision-making organization established to produce goods and/or provide services.

Wholesale

Business

Goverment

National

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The individuals or organizations that actually use a product.

Manufacturers

Producers

Wholesaler

Consumer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The individuals who take risks in overseeing a business organization or business venture, usually in pursuit of profit.

Managers

Consumers

Entrepreneurs

Stockholder

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The collective term for the resources used in the production process, i.e. land, labour, capital and entrepreneurship

Needs

Goods

Factor of production

Natural resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Function of an organization responsible for ensuring that the business has sufficient funds in order to conduct its daily operations.

Finance and accounts

Services

Marketing

Production

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The physical (tangible) products, such as cars, clothes, flowers, food, furniture, smartphones, and toys.

Services

Goods

Customer

Consumer

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