Cam Business AS level Hoàng Minh 15.07

What is the primary purpose of business activity?

• To maximize shareholder wealth
• To satisfy customer needs and wants
• To reduce unemployment
• To control market prices

Which of the following is NOT a factor of production?

• Land
• Labour
• Profit
• Enterprise

What does "added value" refer to?

• Total sales revenue
• Difference between selling price and production cost
• Government subsidies
• Employee wages

Which sector includes IT and research firms?

• Primary
• Secondary
• Tertiary
• Quaternary

Opportunity cost is best defined as:

• The monetary cost of a decision
• The next best alternative given up
• The total time invested
• The risk of failure

A pizza delivery business adds value by:

• Buying ingredients cheaply
• Transforming inputs into outputs
• Paying delivery drivers less
• Using generic packaging

Which is an example of a tertiary sector business?

• Oil drilling company
• Car manufacturer
• Hair salon
• Software developer

What key skill helps entrepreneurs assess risks?

• Creativity
• Financial monitoring
• Networking
• Risk assessment

A common reason for early business failure is:

• Too much market research
• Lack of cash flow management
• Low employee turnover
• Excess profits

What distinguishes a multinational business?

• Operates in one town
• Has production bases abroad
• Only sells online
• Government-owned