Understanding Business Basics Quiz

What is a business decision?

• Choosing what to eat for lunch

• Deciding how to run a company

• Picking a favourite toy

What is the main goal of financial management in a business?

• To make sure the company has enough money

• To organise a birthday party

• To play games

Which of these is a marketing strategy?

• Playing in the park

• Telling people about a new toy

• Reading a book

What is product development?

• Making a new toy

• Eating ice cream

• Watching TV

Why is customer feedback important?

• It helps improve products

• It is fun to listen to

• It makes people laugh

What might a business do if they receive bad customer feedback?

• Ignore it

• Improve their product

• Go on holiday

What is one way to advertise a product?

• Write a story

• Make a TV commercial

• Sing a song

What does it mean to budget in financial management?

• To plan how to spend money

• To play with toys

• To draw pictures

What is a new product called when it is first made?

• An old toy

• A prototype

• A book

How can a business find out what customers like?

• By guessing

• By asking them

• By watching TV