Introduction to Business Management Quiz

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

• To provide entertainment

• To satisfy the needs of society

• To create jobs for everyone

• To maximize profits for shareholders

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

• Self-actualization

• Safety and security needs

• Financial independence

• Social needs

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

• Capitalism, Socialism, Communism

• Free market, Regulated market, Command economy

• Market economy, Command economy, Socialism

• Traditional economy, Market economy, Mixed economy

Which sector includes large businesses listed on the JSE?

• Informal Sector

• Formal Sector

• Micro enterprises

• Non-profit organizations

What is a key theme of sustainability mentioned in the text?

• Maximizing profits

• Market competition

• Consumerism

• Social responsibility

Which of the following is a function of business management?

• Public relations management

• Quality assurance management

• Environmental management

• Crisis management

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

• To ensure compliance with laws

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

• To create new products

• To manage human resources effectively

Which of the following best describes a command economy?

• Free choice of products and services

• Limited choices determined by the state

• Market-driven resource allocation

• Community ownership of assets