What is a business

What is a business

1st - 3rd Grade

8 Qs

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What is a business

What is a business

Assessment

Quiz

Social Studies

1st - 3rd Grade

Practice Problem

Hard

Created by

Bo Gao

Used 30+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are the resources used in the production process collectively known as

Capital resources

Factors of production

Raw materials

Working capital

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Consumers are the people or business that

Buy and use goods and services

Buy goods and services

Pay for a good or service without using it

Use a good or service

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following does not apply to the quaternary industry?

A sub-category of the tertiary sector

Capital intensity

Development of expertise and skills

Improved efficiency of production

4.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

The secondary sector

consists of business involved in the manufacturing of physical goods

forms the largest employment sector in most high income countries

provides both goods and services

tends to be labour intensive

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The process of increasing the value of a resource in the production process is known as

Production

Adding value

Sectoral change

The chain of production

6.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

Which of the following does not apply to most business start-ups?

Business registration documentation is required prior to trading

A business plan could help minimize risks

It requires entrepreneurial skills

Owners will use their own savings to finance their start-ups

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which of the following does not belong to a business plan?

A SWOT analysis

Unique selling point

Executive summary

A fixed format

8.

MULTIPLE SELECT QUESTION

1 min • 5 pts

Which of the following may lead to business failure at the beginning?

Lack experience in hiring people

An unofficially business plan

Epidemic

Poor marketing