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WorksheetsWSSC BM U1 Chapter 1: Introducing business
Total questions: 19
Worksheet time: 10mins
Name
Class
Date
1.
A __________________ is an organisation that provides goods and/or services to consumers to make a profit.
a)
business
b)
entreprenuer
c)
stakeholder
d)
market share
2.
A business makes a _______________ when the income earned (revenue) is greater than the costs of production (expenses).
a)
objective
b)
economy
c)
profit
d)
return on investment
3.
The Salvation Army is an example of a ________________________ organisation.
a)
For profit
b)
Not for profit
4.
A ________________________ is a set of ethical standards by which managers and employees should abide.
a)
policy
b)
code of conduct
c)
objective
d)
business ethics
5.
_________________________ are the people that work for the business.
a)
employer
b)
employees
c)
stakeholders
d)
customers
6.
______________________ are those that are ready for customers to buy and use.
a)
Finned goods
b)
Finnish goods
c)
Finished goods
d)
Fried goods
7.
A __________________________ corporation (sometimes referred to as a transnational corporation) is a company that has branches in many different countries.
a)
small business
b)
corporation
c)
multinational corporation
d)
medium business
8.
A _____________________________ is a general guide to help employees deal with recurring situations.
a)
policy
b)
procedure
9.
A _________________________ is any group or individual who has an interest in, or is affected by, the activities of a business.
a)
Shareholder
b)
Stakeholder
c)
Steakholder
d)
Stubbyholder
10.
An ___________________________ is a system set up to determine what to produce, how to produce and to whom production will be distributed.
a)
economist
b)
economic
c)
economy
11.
An _________________________ states what an organisation expects to achieve over a set period.
a)
goal
b)
objective
c)
return on investment
12.
____________________________ is the application of moral standards to business behaviour.
a)
business ethics
b)
principles
c)
values
13.
__________________________________ occurs when a person takes advantage of a situation or piece of information for his or her own gain rather than for the employer’s interests.
a)
Economic growth
b)
Corruption
c)
Conflict of interest
14.
_______________________ is a lack of honesty or integrity; using a position of trust or authority to receive favours, often financial bribes.
a)
Coeection
b)
Corruption
15.
______________________ means the multitude of individual differences that exist among people.
a)
Workplace difference
b)
Workplace diversity
c)
Workplace diversion
16.
_______________________ refers to the business’s share of the total industry sales for a particular product.
a)
Economic growth
b)
Market share
c)
Return on investment
17.
________________________ is managing an organisation in such a way that the broader social welfare of the community is taken into consideration when making business decisions.
a)
Socially responsible manager
b)
Socailly responsible management
c)
Socially responsible mismanagement
18.
The _________________________ is a set of mostly unwritten or informal rules that spell out how people are to behave most of the time.
a)
culture
b)
corporate culture
19.
The __________________________ on investment is a positive or negative percentage that relates the money gained or lost on an investment to the cost of that investment. It is usually taken to mean that the return on the investment occurs over a 12-month period.
a)
loss
b)
gain
c)
return
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