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Understanding business activity

Business

10th Grade

12 Questions

Used 1K+ times

Understanding business activity
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Businesses including farming, fishing, forestry & the extraction of natural resources e.g. oil, minerals etc.

Tertiary Sector

Primary Sector

Secondary Sector

The economic problem

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Land, labour, capital and enterprise are collectively known as

Goods and services

Business cycle

Factors of production

Output

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Organisations run by central or local government are often referred to as

Private sector

Voluntary sector

Public sector

Mixed economy

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of these is the best definition of the ‘economic problem’?

People do not have enough money.

There are not enough resources to satisfy people’s wants.

There are too many factors of production.

The amount of something produced by a person, machine or industry.

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is NOT a factor ofproduction?

oil reserves

factory buildings

skilled labour

a play station

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Division of labour can be defined as:

Workers specialise on just one task and become better at it.
Workers become specialist in all jobs.
All firms only have one worker
No workers are employed as machines always do all the work.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the benefits of business growth?

Sales will increase.
Market share will probably rise.
The business will probably become more secure.
Management will have less work to do.

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