Business Studies Weeks 1, 2 and 3

Which one is a sensible ethical decision for businesses

• Higher wages

• Workers well-being

• Adding value

• Minimizing costs

Whats the main purpose of a business activity

• Maximizing profits

• Minimizing competitors wealth

• Creating products

• None of the above

What is the main feature that distinguishes a private limited company from a public limited company?

• Freedom to buy shares

• Unlimited liability

• Size of the board of directors

• Government ownership

Which of the following is NOT a factor of production?

• Labour

• Capital

• Inventory

• Machinery

What does SMART objectives stand for?

What is a common drawback of a private limited company partnership as a business structure?

• Limited liability for partners

• Splitting shares properly

• Ease of decision-making

• Strong legal protection

What do successful entrepreneurs often possess that helps them navigate challenges?

• Risk aversion

• Innovation and determination

• Indecisiveness

• Reliance on established norms

Which objective emphasizes a business's commitment to ethical behavior and social responsibility?

• Profit maximization

• Survival

• Growth

• Social responsibility and ethics

How does the size of a private sector business measured by "market capitalization" differ from measuring by "revenue"?

• Market capitalization includes both assets and liabilities.

• Revenue represents the total value of company shares.

• Market capitalization reflects the total value of outstanding shares in the stock market.

• Revenue considers the company's stock market value.

What is limited liability

• Partners are liable unlimitedly

• The company is limited on their liability

• The partnership isnt obliged to answer their debts

• Personal assets of business owners are protected from business debts.