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Business

Authored by Elshaimaa Aly

Business

12th Grade

Used 6+ times

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27 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which statement best defines business activity as introduced in this section?

Any activity that creates entertainment for people

Any activity that provides goods and services to satisfy people’s needs and wants using factors of production

Only the process of selling products in markets

Government actions to control prices

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Identify the correct pairing of goods and services based on the definitions provided.

Goods: teaching; Services: cars

Goods: food; Services: transport

Goods: healthcare; Services: clothes

Goods: engineers; Services: factories

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Luxury clothes

New phone

Holiday

Water

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the economic problem of scarcity?

Resources are unlimited while human wants are limited

Resources are limited while human wants are unlimited, requiring choices

Prices are always increasing in markets

Businesses cannot produce services

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Opportunity cost is defined as:

The total cost of producing a product

The next best alternative that you give up when making a choice

The price difference between brands

The profit after all costs are paid

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Using the AED 20 cinema example, what could be the opportunity cost?

Buying a new phone

Saving for a holiday

The meal you could have bought instead

Paying for transport

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which option correctly matches a UAE example to its factor of production?

Land — teachers

Labour — airports

Capital — machines

Enterprise — sunlight

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