
Business Essentials
Authored by John Robinson
Social Studies
7th Grade

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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the primary purpose of a business?
To provide goods and services
To employ people
To pay taxes
To compete with other businesses
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a key characteristic of a sole proprietorship?
Limited liability
Owned by shareholders
Single owner
Double taxation
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the role of a business plan?
To secure funding
To hire employees
To pay taxes
To advertise products
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which economic system is characterized by private ownership and free markets?
Socialism
Communism
Capitalism
Feudalism
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a stakeholder in a business context?
A person who owns shares
A person affected by the business
A person who works for the government
A person who manages the business
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a primary function of management?
Marketing
Production
Planning
Sales
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is corporate social responsibility?
Maximizing profits
Minimizing costs
Contributing to societal goals
Increasing market share
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