Introduction to Business Management Quiz

What is the primary role of a business organization in society?

• To maximize profits for shareholders

• To provide free services to the community

• To make available the products and services society must have

• To create jobs for everyone

Which of the following is NOT one of Maslow's hierarchy of needs?

• Physiological needs

• Safety and security needs

• Financial independence

• Self-actualization

What are the three main economic systems identified in the text?

• Command economy, Free market, Cooperative economy

• Market economy, Command economy, Socialism

• Capitalism, Socialism, Communism

• Market economy, Traditional economy, Mixed economy

Which sector includes large businesses listed on the JSE?

• Informal Sector

• Micro enterprises

• Formal Sector

• Non-profit Sector

What is the core of sustainability for a business?

• Expanding market share

• Reducing operational costs

• Ability to survive and prosper over long periods

• Maximizing profits

Which of the following is a need-satisfying institution that is not profit motivated?

• Pick 'n Pay

• SAA

• Eskom

• Old Mutual

What is the purpose of business management as described in the text?

• To achieve the highest possible output with the lowest possible input

• To ensure employee satisfaction

• To maximize customer loyalty

• To minimize competition

Which of the following is NOT a functional management area of a business?

• Financial management

• Legal management

• Marketing management

• Public relations management