Functions of Business

Which of these BEST describes the function of private business?

• to maintain the security of citizens

• to provide services through taxation

• to produce goods and services for the public

• to provide savings and investment opportunities to the public.

Which of the following is a primary function of business in a market economy?

• To regulate prices

• To produce goods and services

• To enforce laws

• To provide public welfare

What is the main function of marketing within a business?

• To manage finances

• To produce goods

• To promote and sell products

• To hire employees

Which function of business is responsible for managing employee relations and benefits?

• Marketing

• Human Resources

• Finance

• Production

In a business, which function is primarily concerned with the management of money and investments?

• Marketing

• Human Resources

• Finance

• Production

Which of the following is a function of business that involves creating new products or improving existing ones?

• Research and Development

• Finance

• Human Resources

• Marketing

What is the role of the production function in a business?

• To manage employee benefits

• To produce goods and services

• To advertise products

• To handle customer complaints

Which business function is responsible for ensuring products meet quality standards?

• Marketing

• Quality Control

• Finance

• Human Resources

What is the primary function of customer service in a business?

• To handle customer complaints and inquiries

• To produce goods

• To manage finances

• To hire employees

Which function of business involves planning and controlling the budget?

• Marketing

• Finance

• Human Resources

• Production