Business Activity

Business Activity

8th - 10th Grade

20 Qs

quiz-placeholder

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Business Activity

Business Activity

Assessment

Quiz

Business

8th - 10th Grade

Medium

Created by

Anwara Akter

Used 523+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Land, labour, capital and enterprise are collectively known as

Goods and services

Business cycle

Factors of production

Output

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Private sector

Voluntary sector

Public sector

Mixed economy

3.

MULTIPLE CHOICE QUESTION

1 min • 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.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT a factor ofproduction?

oil reserves

factory buildings

skilled labour

a play station

5.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Which of the following characteristics does a successful entrepreneur have? You may find more than one option. Tick all answers that apply...

Creative / innovative

Willing to take calculated risks

Determined & resilient

Risk averse

Confident & good at communication

6.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What might an entrepreneur risk when starting up a business? You may find more than one option. Tick all that apply...

They might have invested their own personal savings

Relationships with family & friends might suffer due to long hours

Giving up a job / steady income

Getting rich if the business does well

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a benefit of being a Sole Trader?

The owner has limited liability

Finance can be raised by selling shares to friends and family

The owner has complete control over business decisions

Workload can be shared between the owners

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