Business Concepts Quiz

What is a commercial business?

• A business that produces or sells goods or services to make a profit

• A business that provides goods or services primarily to meet the needs of society

• A business that is run by the government

• A business that only operates online

Who is an entrepreneur?

• Someone who provides the finance required by the business

• Someone who buys goods or services for their own use

• Someone who has the initiative to set up a business in the hope of making a profit

• Someone who works for an employer in the production of goods or services

What is a stakeholder?

• Anyone who provides raw materials to a business

• Anyone who buys goods or services

• Anyone who has an involvement in, or is directly affected by, the activities of a business

• Anyone who manages the day-to-day running of a business

What does an investor do?

• Works for an employer in the production of goods or services

• Provides the finance/capital required by the business

• Transforms raw materials into finished products

• Buys goods or services for their own use

Who is a consumer?

• A person who represents the interests of businesses in a specific industry

• A person who manages the day-to-day running of a business

• A person who provides raw materials to a business

• A customer who buys goods or services for their own consumption and use

What is a service provider?

• A person who transforms raw materials into finished products

• A person who buys goods or services for resale

• A person who provides raw materials to a business

• A person who offers an essential service or support to business customers

What is a trade union?

• An organisation that provides essential services to the public

• An organisation that provides finance to businesses

• An organisation set up to protect the rights and interests of the workers it represents

• An organisation that represents the interests of businesses in a specific industry

What is a co-operative relationship?

• Stakeholders work together towards a common goal

• The relationship between stakeholders is changeable

• Stakeholders are rivals or pursue an objective at the other's expense

• Stakeholders are reliant on each other to achieve their individual goals

What is a competitive relationship?

• Stakeholders are reliant on each other to achieve their individual goals

• The relationship between stakeholders is changeable

• Stakeholders work together towards a common goal

• Stakeholders are rivals or pursue an objective at the other's expense

What is a dependent relationship?

• Stakeholders are reliant on each other to achieve their individual goals

• Stakeholders are rivals or pursue an objective at the other's expense

• Stakeholders work together towards a common goal

• The relationship between stakeholders is changeable