AS Level - Unit 1 Key Terms

AS Level - Unit 1 Key Terms

11th Grade

30 Qs

quiz-placeholder

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AS Level - Unit 1 Key Terms

AS Level - Unit 1 Key Terms

Assessment

Quiz

Business

11th Grade

Practice Problem

Easy

Created by

Niall Clark

Used 9+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

1. Define the term ‘Entrepreneur’.

Someone who provides capital to businesses.
Someone who takes the financial risk of starting and managing a new venture.
A business investor with no active role.
A manager responsible for daily operations.

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

2. What is an ‘Intrapreneur’?

A shareholder who invests in startups.
An employee who takes responsibility for developing new business ideas within a company.
A government advisor on business regulations.
A financial consultant for entrepreneurs.

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

3. What is ‘Opportunity Cost’?

The total cost of starting a business.
The cost of producing goods and services.
The benefit of the next best alternative forgone when making a choice.
The amount lost due to bad business decisions.

4.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

4. What are ‘Consumer Goods’?

Goods that are used in production.
Non-tangible products sold to consumers.
Physical and tangible products sold to the general public.
Services offered to customers.

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

5. What is the definition of a ‘Stakeholder’?

An individual or group affected by and interested in business decisions.
A person who purchases shares in a company.
A company that holds investments in multiple firms.
A financial regulator overseeing businesses.

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

6. What is a ‘Factor of Production’?

The cost of goods sold.
The financial investment needed to start a business.
Resources required by businesses to produce goods and services.
The revenue earned from product sales.

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

7. What does ‘Adding Value’ mean?

Increasing the selling price beyond the cost of bought-in materials.
Reducing production costs.
Increasing customer demand through promotions.
Maximizing stock availability.

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