Nature of Business Quiz Yr11

What is the main role of a business in society?

• To regulate the market

• To produce goods and services

• To determine government policy

• To increase unemployment

Which of the following is NOT a factor of production?

• Labour

• Land

• Capital

• Consumption

What is the main goal of most businesses?

• Reducing inflation

• Maximising profit

• Promoting tourism

• Protecting the environment

Which business structure offers limited liability to its owners?

• Sole trader

• Partnership

• Private company

• Cooperative

A sole trader business is:

• Owned by shareholders

• Owned and operated by one person

• A partnership of up to 20 people

• Always a large multinational

Which of the following best describes a business’s wealth creation role?

• Creating infrastructure

• Distributing resources equally

• Generating income for owners and employees

• Enforcing market regulations

Which term describes the combining of two or more businesses to form one?

• Diversification

• Incorporation

• Merger

• Deregulation

A not-for-profit organisation primarily aims to:

• Maximise shareholder returns

• Increase government revenue

• Provide services without profit motive

• Take over smaller businesses

What is meant by the size of a business?

• Its reputation in the market

• The number of staff or annual turnover

• Its location

• Its tax bracket

Which industry sector extracts raw materials from the natural environment?

• Tertiary

• Primary

• Secondary

• Quaternary