Recap of topic 1

Recap of topic 1

12th Grade

15 Qs

quiz-placeholder

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Recap of topic 1

Recap of topic 1

Assessment

Quiz

Other

12th Grade

Medium

Created by

Lois Slater

Used 21+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is a primary sector business?

Working with the extraction of raw materials

Making this either by manufacturing or construction.

Providing a service.

2.

FILL IN THE BLANK QUESTION

10 sec • 1 pt

Cash flow is an important objective for a business. This involves money flowing .................... and out of the business.

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What are social and ethical objectives?

Concerned with the aim of maximizing profit.

Considering how a business can continue to trade over a period of time and not cease.

Targets that relate to matters such as providing employment for people or improving facilities.

Where a firm produces an increased range of unrelated goods and services.

4.

FILL IN THE BLANK QUESTION

10 sec • 5 pts

Cash flow is important, as it is essential to pay d...... on time.

5.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

What is profit?

Money made from sales

Money left after all costs have been taken away

Money owed to the business

Money flowing out of the business

6.

FILL IN THE BLANK QUESTION

10 sec • 1 pt

Fixed costs d.......... n............ change with output.

7.

MULTIPLE SELECT QUESTION

10 sec • 1 pt

Which one of the costs below is not a variable cost.

Raw materials

Staff who are paid per piece

Managers salaries

Fuel

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