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1.1-1.2 SDN

Authored by Francois Rochon

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11th Grade

Used 2+ times

1.1-1.2 SDN
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement best defines a business?

An organization that exclusively provides intangible products like healthcare.

An entity created solely for the purpose of generating profit for shareholders.

A decision-making organization established to produce goods and/or provide services.

A group that only focuses on selling tangible products to consumers.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sushi restaurant requires rice, fish, chefs, and an owner who took the risk to start the business. Which factor of production does the owner represent?

Land

Labor

Capital

Enterprise

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which business function is primarily responsible for identifying and satisfying the needs and wants of customers through activities like pricing and promotion?

Operations Management

Marketing

Human Resources

Finance and Accounts

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company that is involved in mining iron ore and harvesting timber operates in which sector of the economy?

Secondary sector

Tertiary sector

Primary sector

Quaternary sector

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A firm specializing in software development and data analytics is part of which business sector?

Quaternary sector

Primary sector

Secondary sector

Tertiary sector

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The "chain of production" tracks a product from raw materials to the final consumer. What typically happens to the item at each stage of this chain?

It becomes less valuable.

It remains unchanged.

It is transformed and value is added.

It is discarded at each stage.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a defining characteristic of an entrepreneur?

They avoid financial risks by seeking government funding.

They manage an existing business without making any changes.

They plan, organize, and manage a new business, taking on financial risks.

They are primarily employed to manage the human resources department.

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