Worksheetscsec principles of business (The Nature of Business)
Total questions: 25
Worksheet time: 13mins
What is bartering?
A system of exchange without the use of money.
A system of exchange with the use of money.
A system of using money to purchase goods and service.
A system to handing out goods with nothing in return.
Trading oil for wheat. Is an example of?
Monetary Exchange
Bartering
Profit
Loss
Difference between Bartering and Exchange?
Difference include bartering is the exchanging using money and Exchange is giving up one thing for anything other than Money,
Difference include barter is the exchanging without the use of money while exchange is giving up one thing for another with or without money.
There is no difference
All of the above
What are the category of human resources?
Blue collar, White Collar, Brown collar
Adults, men ,women
Professionals, Skilled, Semi-skilled, Unskilled
Which trading instrument can be issued in foreign currency?
Barter
Money Order
Telegraphic money order
Bank Draft
The focus of effort in a particular leading to expertise in the area
Enterprise
Globalization
Labour
Specialization
A good traded in bulk
Commodity
Product
Goods
Trade
John bought a soda from Moe's Supermarket. Who is John?
A producer
A marketer
A Consumer
A tattoo artist
John bought a soda from Moe's Supermarket. Who is Moe?
A producer
A retailer
A commodity
A casher
An advantage of Money order.
Can be use by persons without a bank account.
Bank fee is attached to the money order.
It is a very pretty piece of document.
It is at the tip of your finger.
A type of cheque (Check)
One to many cheque
Many to one cheque
Open cheque
person to business cheque
What is E-commerce?
The buying and selling of goods or services via the internet.
The buying and selling of goods and service within a local market.
The buying and selling of goods and services on someone's property.
The buying and selling of goods and services in your back yard.
What is a key feature of E-Commerce?
Buying goods and service.
Its via the internet.
If you don't have internet no buying of goods and service.
Faster communication with stakeholders.
When setting up a website for your business. You should ensure that:
Virus software, firewall.
How much it cost.
Ordering system should be easy.
Provide customer support.
What is direct production?
A business which supply their consumers directly with goods and services.
A business which only produce goods.
A product that goes through one level of production.
It is a means in which human beings provide what they need for themselves and for their families by hunting or fishing.
Drawbacks to the bartering system:
Storage of wealth
Exchange rate
Double coincidence
All of the above
In the early economy, before money which was consider a medium of exchange?
Beans, shells, precious stones.
Car, truck, vans
cash, money, coins
cats, dogs, mouse
Characteristics of money:
Portability
Divisibility
Durability
Acceptability
All of the above
Functions of Money:
Medium of exchange
Measure of value
store of value
Standard deferred
All of the above
The business is registered as a separate entity from its owner.
incorporated
unincorporated
reasonability
smart idea
Business and owners is register as one and the same
incorporated
unincorporated
Reasonability
Smart ideas
Types of businesses:
Partnership
Sole trader
co-operatives
Bailey's supermarket
Partnership business: Name the document that outline the relationship between the partners.
Memorandum of Association
Articles of Association
Business plan
Partnership Deed
A partner who contributes capital but does not participate in the operation in the business.
Silent or sleeping partner
Peaceful partner
Capital only partner
Tired partner
Types of co-operatives:
Consumer
Producer
Worker
All of the above
