AQA Unit 1 revision Quiz

What is the primary purpose of a business?

• To provide entertainment

• To provide goods and services on a commercial basis to customers

• To provide education

• To provide healthcare

What is a product?

• A general term that includes goods and services

• A term that only includes goods

• A term that only includes services

• A term that includes only physical items

Which of the following is an example of a good?

• Consumer electronics

• Insurance

• Dental services

• Cleaning

Which of the following is an example of a service?

• Insurance

• Consumer electronics

• Industrial components

• Cars

What type of products are goods?

• Physical products

• Intangible products

• Digital products

• Virtual products

What type of products are services?

• Intangible products

• Physical products

• Digital products

• Virtual products

Which of the following is a benefit of business to society?

• Create Employment & Develop Human Capital

• Increase Pollution

• Decrease Innovation

• Reduce Wealth

How do businesses contribute to innovation in society?

• By reducing research and development

• By driving innovation through R&D and new products

• By avoiding new product development

• By focusing only on existing products

What is one way businesses support government functions?

• By avoiding taxes

• By paying taxes on profits earned and collecting taxes for the government

• By reducing government revenue

• By hiding profits

How do businesses create wealth in society?

• By reducing investments

• By providing returns on investment

• By avoiding financial growth

• By decreasing shareholder value