Business Concepts Quiz

Which stakeholder group includes people who work for the company?

• Employees

• Suppliers

• Customers

• Government

Which of the following is a type of business ownership?

• Monopoly

• Partnership

• Inflation

• Recession

What is a key characteristic of stakeholders?

• They are always external to the business

• They have no interest in the business outcomes

• They can influence or be influenced by the business

• They are only interested in profits

What is the main goal of business aims and objectives?

• To confuse employees

• To provide clear targets for the business

• To increase operational costs

• To reduce market share

What is one reason a business may look to grow in size?

• To open up other opportunities and increase profits

• To reduce the number of employees

• To decrease production costs

• To limit market reach

Which of the following is a way a business can grow?

• Employing more people

• Reducing product quality

• Decreasing customer base

• Limiting sales channels

Which strategy involves expanding the physical presence of a business?

• Opening more branches

• Reducing store hours

• Decreasing product lines

• Limiting customer service

How can a business achieve growth?

• By increasing its market share

• Through Internal and External Growth

• By reducing its workforce

• By decreasing production

What is another term for organic growth?

• External growth

• Financial growth

• Internal growth

• Market growth

Which of the following is NOT associated with organic growth?

• Internal actions

• Increased sales

• Mergers and acquisitions

• Increased output