Business Basics Quiz

What is a business?

• Watching TV
• Selling and buying goods or services
• Playing games

Who is an entrepreneur?

• A person who sells and buys goods
• A person who starts a business
• A person who works for free

What do entrepreneurs take to start a business?

• Risk
• Food
• Holidays

What do you need to sell lemonade?

• Lemons, sugar, and water
• Pens and paper
• Shoes and hats

What is the cost in a business?

• Money earned
• Money spent
• Money saved

What is profit?

• Money earned after costs
• Money lost
• Money saved in the bank

If you earn 700 Riyals and spend 500 Riyals, what is the profit?

• 300 Riyals
• 200 Riyals
• 100 Riyals

What must you check before starting a business?

• If people want what you sell (demand)
• If you have a car
• If you like cartoons

What price should you choose for your product?

• Very high price
• A good price based on demand
• Free

The baker sells croissants for 10 Riyals. They cost 5 Riyals. Is he gaining or losing money?

• Gaining
• Losing
• Neither