Quiz on The Nature of Business

Quiz on The Nature of Business

12th Grade

15 Qs

quiz-placeholder

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Quiz on The Nature of Business

Quiz on The Nature of Business

Assessment

Quiz

Financial Education

12th Grade

Easy

Created by

Claudine Rensburg

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of business activity?

To conduct market research

To manage human resources

To produce goods or services

To create a unique selling proposition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Consulting

Hairdressing

Insurance

Cars

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does adding value to a product mean?

Eliminating competition

Reducing customer satisfaction

Differentiating products from competitors

Increasing production costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the transformation process, what are inputs?

The marketing strategies employed

The profits generated from sales

The resources used to create goods and services

The final products sold to customers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a type of resource used in business?

Digital

Physical

Human

Financial

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a capital-intensive production process?

One that focuses on customer service

One that uses minimal resources

One that relies heavily on machinery costs

One that requires more labor than machinery

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the Human Resources function?

To manage financial records

To oversee production processes

To conduct market research

To organize and develop human resources

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