MDIS FYC IBM Lesson 3 Quiz

What is the primary goal of a business?

• To earn a profit
• To reduce expenses
• To produce more goods
• To only serve stakeholders

Which of the following is an example of a tangible product?

• Concert ticket
• Dry cleaning
• Loaf of bread
• Haircut

What is the difference between revenue and expenses called?

• Loss
• Profit
• Investment
• Revenue

Which type of organization does not focus on making a profit?

• Nonprofit organization
• For-profit corporation
• Franchise
• Multinational company

What is one example of motivating employees toward business goals?

• Offering rewards like bonuses
• Reducing salaries
• Avoiding communication
• Setting unclear goals

Which leadership quality helps drive digital culture transformation?

• Delegation over control
• Boldness over caution
• Task delegation over planning
• More planning over action

Which resource is considered intangible in business?

• Land
• Labor
• Capital
• Reputation

What does the term 'entrepreneur' refer to?

• A person who buys products
• A person who manages employees
• An individual who risks time and wealth
• A company that produces goods

What is the role of 'capital' in business growth?

• Used for buying goods
• Creates long-term financial growth
• Leads to innovation and creativity
• Encourages faster product delivery

What is 'corporate social responsibility' (CSR)?

• Focusing on short-term profits
• Improving supply chain
• Giving back to society
• Boosting company profits