Business Quiz Business in the real world Quiz1

Which is the definition of a business?

• A business sells products or services to customers

• Identifying new business opportunities, and taking advantage of them

True or false? Business are only set up to make money.

• True

• False

A business sells handbags to its customers. Is this business providing a good or service? Is it providing a need or a want?

• Good and Need

• Good and Want

• Service and Need

• Service and Want

A business advertises other businesses' products through social media. Which is this type of advertising?

• Primary sector

• Secondary sector

• Tertiary sector

What is an Enterprise?

• Identifying new business opportunities, and taking advantage of them.

• Someone who takes on the risks of enterprise activity, e.g. starts a business

What is an Entrepreneur?

• Identifying new business opportunities, and taking advantage of them.

• Someone who takes on the risks of enterprise activity, e.g. starts a business

True or false. Entrepreneurs need to have good organisational skills to keep on top of all the day-to-day tasks of running the business, as well as planning for the future.

• True

• False

Anansh is an entrepreneur who has recently left his stable job to start up a business. He's currently working long hours alone, as well as attending meetings with potential financial backers. Which of the entrepreneurial characteristics is he displaying?

• Working long hours

• Hardworking

• Completing different tasks

• Taking calculated risk

• Running the business with his partner

Dariya works as a shop assistant, but she doesn't really like her job. She identifies a gap in the market for make-up applicators shaped like rubber ducks. Why might Dariya decide to leave her job and become an entrepreneur? Choose 3

• To fill the gap in the market for make-up applicators shaped like rubber ducks.

• To work with her friends

• To become independent and be her own boss.

• To be happier and more motivated to go to work

• To make more money

Land means the 'territory' owned by a business, as well as the Earth's natural resources

• True

• False