201 Lesson 4 Quiz

Which of the following is a benefit of self-employment?

• Being your own boss

• Receiving company benefits

• Guaranteed benefits

• No benefits

What is a key requirement for managing finances in self-employment?

• Ignoring financial records

• Managing your financial records properly

• Relying on others for finances

• Avoiding financial planning

What is the benefit of monitoring cash flow mentioned in the document?

• Increasing project costs

• Complying with tax laws

• Reducing employee numbers

• Ignoring financial statements

What impact do recessions have on the construction industry?

• Increase in job opportunities

• Expansion of business operations

• Job losses and business closures

• Growth in investment levels

Which of the following is NOT a consequence of a recession in the construction industry?

• Job losses

• Business closures

• Increased investment

• Reduced investment

Which of the following is a recent recession mentioned in the text?

• The recession of the early 1980s

• The recession of the late 2000s

• The recession of the early 1970s

• The recession of the late 1960s

What does "high demand" in the UK construction industry refer to?

• A decrease in construction services

• A strong and growing need for construction services

• A surplus of construction workers

• A decline in infrastructure projects

What opportunities can high demand create for businesses in the construction industry?

• Fewer contracts

• Lower prices

• More contracts and work

• Reduced operations

Which of the following is NOT a result of high demand in the construction industry?

• Increased competition

• Labour shortages

• Decreased need for construction services

• Supply chain challenges

What is the level of the progression in construction discussed in the document?

• Level 1

• Level 2

• Level 3

• Level 4