Business management

The people who work to produce goods and services are known as

• Capital

• Human resources

• Raw materials

• Facilities

Manufactured or constructed items that are used in the production of goods and services?

• Capital goods

• Production

• Natural resources

• Scarcity

_________ is the problem-solving process of using resources to achieve goals through planning, organizing, leading, and controlling.

• MANAGEMENT

• PLANNING

• LEADING

• CONTROLLING

Which sector of the economy involves extraction of the economy, farming, fishing, forestry and mining?

• Secondary sector

• Primary sector

• Quaternary sector

• Tertiary sector

What is a business that is owned and operated by one person known as?

• Limited liability company

• Sole trader

• Partnership

• Entrepreneurship

How do businesses aim to satisfy the needs and wants of individual and organization?

• Creating a product

• Providing a service

• Extracting raw materials

• All of the options

A mission statement outlines that why an organization exists?

• True

• False

Activities that are undertaken to earn profit are called

• Social activities

• Economic activities

• Non-economic activities

• None of the them

Which of the following is not a feature of a business?

• Profit motive

• Regularity in dealing

• Element of risk

• Social service

Which type of sector is shown in the picture?

• Primary

• Secondary

• Tertiary