BBE QUIZ

1.What is business?

• a) A recreational activity
• b) A non-profit organization
• c) An organization or entity engaged in commercial, industrial, or professional activities
• d) A government agency

2.What are goods?

• a) Intangible products
• b) Tangible products that satisfy human wants
• c) Services provided to consumers
• d) Digital products

3.What are services?

• a) Tangible products
• b) Intangible activities or benefits provided to consumers
• c) Physical items sold in markets
• d) Manufactured goods

4.What is the primary purpose of a business?

• a) To entertain people
• b) To create and exchange goods and services for profit
• c) To regulate industries
• d) To provide public services

5.Which of the following are considered business outputs?

• a) Raw materials
• b) Goods and services produced
• c) Employee salaries
• d) Business plans

6.Which of the following is a common challenge in business?

• a) Unlimited resources
• b) Perfect competition
• c) Economic instability
• d) Lack of market demand

7.What is the business environment?

• a) The physical office space
• b) The combination of internal and external factors that influence a business
• c) The natural environment
• d) Government regulations

8.Why is understanding the business environment important?

• a) It ensures business profitability
• b) It helps in making strategic decisions
• c) It eliminates competition
• d) It guarantees customer satisfaction

9.Which of the following is part of the micro business environment?

• a) Global economy
• b) Suppliers and customers
• c) Technological advancements
• d) Legal regulations

10.Which of the following is part of the macro business environment?

• a) Company's competitors
• b) Internal company culture
• c) Political and economic conditions
• d) Employee relationships