Rapid Fire Quiz 01 EM

Select the answer which define a business accurately

• Any economic activity which engage in satisfying consumer needs and wants

• Process of Producing goods and services

• Essential things to be fulfilled

• Anything which could satisfy needs and wants

Anything produced by man in order to facilitate manufacturing process

• Entrepreneurship

• Capital

• Labor

• Product

Not a party include in External Environment.

• Entrepreneur

• Government

• Supplier

• Competitor

Sri Lanka ports Authority and Sri Lanka Bureau of foreign employment which an established under a general or special act of the parliament are known as,

• Cooperative society.

• Government Department.

• Incorporated companies.

• State corporations.

The main reason which impact the whole world to become a “ Global Village “ and “ Global Family

• Development of business

• Development in attitudes of people

• Development of information technology

• Development in transportation system

An example for unfavorable impact of global environment towards domestic production

• High competition

• Ability to obtain latest technology

• Ability to obtain quality raw materials

• Inflow of foreign capital to the country

Creation of new cities is,

• A strength to the business

• A weakness to the business

• An opportunity to the business

• A threat to the business

A common objective that can be seen in a profit motive business is

• Generating employment opportunities

• Employment welfare

• Increasing customer satisfaction

• All of the above

The criteria used by census and statistics department to recognize small and medium scale businesses

• Businesses which consume electricity less than 200 units

• Businesses which expenses less than Rs 200,000

• Businesses which capital less 5 million

• Businesses employing less than 25 employees

Authorized institution for registering sole proprietorship businesses is

• Grama Niladharee office

• Office of divisional secretariat

• Company registrar’s office

• Company registrar’s office