Understanding Needs and Business Concepts

Understanding Needs and Business Concepts

9th Grade

20 Qs

quiz-placeholder

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Understanding Needs and Business Concepts

Understanding Needs and Business Concepts

Assessment

Quiz

Business

9th Grade

Practice Problem

Easy

Created by

Josefine Kanstrup

Used 1+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best defines a 'need'?

A new smartphone

Water for drinking

Designer trainers

Wi-Fi connection

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a need rather than a want?

Smartphone

Designer shoes

Clean water

Laptop

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service sector job?

Coal miner

Car factory worker

Bank teller

Farmer

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one main risk an entrepreneur faces when starting a business?

Job promotion

Guaranteed profit

Losing personal savings

Increased salary

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a characteristic of a sole trader?

Shared liability

Limited liability

Owned by shareholders

Makes all decisions independently

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of inorganic growth?

Hiring more staff

Merging with a competitor

Buying new equipment

Opening a new branch

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is most likely an objective for a new small business?

Enter international markets

Maximise profits immediately

Survival

Become a monopoly

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