Business Studies Revision

Which of the following was historically used as a form of money? (Select all that apply.)

• Shark Teeth

• Plastic

• Salt

• Paper

What is an ideal characteristic of money? (Choose two)

• Flexibility
• Uniformity
• Accountability

• Scarcity

Which of the following is NOT a modern instrument of exchange?

• Credit Card

• Cash Register

• Debit Card

• Cheque

What is the benefit of specialization in the workplace?

• Decreased efficiency and productivity
• Lower quality of work
• Limited skill development opportunities
• Increased efficiency, productivity, and quality of work.

Which of the following is an example of specialization?

• A doctor specializing in cardiology
• A teacher specializing in automotive repair
• A chef specializing in plumbing
• A pilot specializing in dentistry

Which of the following is a traditional method of payment?

• Bitcoin

• Barter system

• Mobile wallet

• Online banking

Businesses that are owned and operated by the government are part of the _______ sector.

• public
• charitable
• private
• nonprofit

Which of the following is a service provided by the public sector?

• Selling clothes

• Running a restaurant

• Manufacturing toys

• Building roads

Partners in a business share what?

• revenue and expenses
• assets and liabilities
• profits and losses
• salaries and bonuses

Some people start businesses to be their own _______.

• Customer

• Employee

• Boss

• Manager