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WorksheetsIntroduction to Principles of Business
Total questions: 20
Worksheet time: 10mins
The basic needs of man are
land, money, car
food, money, land
food, clothing, shelter
food, shelter, wifi
The most important principle upon which barter depends is known as:
insurable interest
indemnity principle
utmost good faith
double coincidence of wants
Mary lives in a country in which the state makes all the decisions about economic activities. That country has adopted the:
planned economic system
mixed economic system
free economic system
Capitalist economic system
The most important role of a business in any community is to:
pollute the environment
earn foreign exchange
provide revenue for the government
provide goods and services to satisfy the wants of people
Consumers are those individuals who:
buy their goods from a consumer’s cooperative society
consume all the goods produced by manufacturers
provide goods and services for our satisfaction
utilise the goods and services provided to satisfy wants
The public sector comprises:
a body of public corporations, public companies and municipal undertakings
a combination of public companies and public corporations
an association of all public companies within the country
central and local government organisations and state corporations
Which of the following business organisations belong to the private sector?
municipal authority
nationalised industries
public corporations
public limited companies
In a partnership, an investor is a partner.
In a large company, an investor is a:
sole trader
manager
director
shareholder
What is the minimum number of shareholders a private limited company can have?
2
4
20
50
The exchange of goods and services without the use of money is called
trade
exchange
barter
selling
First Citizen Bank offers a
Good
Service
Tangible item
Free money
Going to the vegetable market you are going to obtain:
Goods
Services
Intangible items
Free fruits and vegetables
The building a business operates may also be called:
A residential building
A government office
A commercial building
Bend down plaza
Businesses are started main to:
Give away stuff
To pay taxes
To maximise profits
To help the community
Select all the parties (stakeholders) that likely benefit when a business does well:
Owners
Government
Customers
The most important principle upon which barter depends is known as:
insurable interest
indemnity principle
utmost good faith
double coincidence of wants
The public sector comprises:
a body of public corporations, public companies and municipal undertakings
a combination of public companies and public corporations
an association of all public companies within the country
central and local government organisations and state corporations
