IGCSE Business Quiz - Chapter 1

What is a business?

• A type of product

• A government entity

• A place where people gather

• An organization that produces goods and services

What are goods?

• Services provided

• Financial transactions

• Physical products

• Marketing strategies

What is a service?

• Consumer goods

• Non-physical products

• Financial assets

• Physical products

What is output in a business context?

• The number of employees

• The marketing budget

• The total revenue generated

• The amount of goods or work produced

What does the human resource department do?

• Handles payments

• Deals with employees and training

• Manages marketing strategies

• Controls production

What is the role of the finance department?

• Manages payments and transactions

• Oversees production processes

• Controls marketing communications

• Handles employee training

What does the operations/production department control?

• Employee hiring

• Manufacture and distribution of goods

• Marketing strategies

• Financial transactions

What are consumer goods?

• Goods sold directly to consumers

• Goods sold to other businesses

• Non-physical products

• Services provided to businesses

What are needs in a business context?

• Desired goods and services

• Marketing strategies

• Products sold to consumers

• Required for human survival

What is the private sector?

• Business organizations owned by governments

• Business organizations owned by individuals

• Non-profit organizations

• Public services