3.1.1 Why Businesses Exist
Authored by James Hannaford
Social Studies
Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do people set up businesses mainly?
To make a profit
To provide luxury goods
To avoid paying taxes
To work fewer hours
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a person who starts their own business called?
Manager
Employee
Entrepreneur
Investor
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main aim of most businesses?
To make a profit
To provide free services
To employ as many people as possible
To avoid competition
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of the public sector?
Privately owned
Government-owned
Focused on profit
Run by entrepreneurs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an aim businesses might have besides making a profit?
To offer the highest quality goods and services
To give excellent customer service
To avoid paying taxes
To develop new products ahead of competitors
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key advantage of owning a business?
Having a guaranteed income
Being your own boss
Avoiding all risks
Receiving government subsidies
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if a business in the private sector doesn't make enough money to survive?
It can go bankrupt and have to close down
It receives government funding
It merges with a public sector organization
It continues to operate without changes
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