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business

Total soal: 20

Worksheet time: 8mins

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1.

Who is an entrepreneur?

a)

businessman

b)

innovator

c)

gentleman

d)

trader

2.

A creative ________, he was continually dreaming up new projects.

a)

trader

b)

merchant

c)

entreprenuer

d)

seller

3.
A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.
a)
Companies, Business
b)
Companies, Research
c)
Customer, Business
d)
Business, Customer
4.

What is a business plan?

a)

Written document that only outlines the business practices of the new business.

b)

Written document that describes the financial aspects of the business.

c)

Written document that only describes the ownership of the business.

d)

Written document that describes all the steps necessary for opening and operating a successful business.

5.

All partnerships must be 50 - 50?

a)

True

b)

False

6.

Items that can be seen and touched are known as...

a)

Goods

b)

Services

7.

People who are part owners of a company are known as...

a)

Stakeholders

b)

Shareholders

c)

Customers

d)

People

8.

Someone who starts, operates and assumes the risk of a business is known as an...

a)

Investor

b)

Interest person

c)

Entrepreneur

d)

Business inventor

9.

A business with less than 20 employees can be classified as a...

a)

Small business

b)

Medium business

c)

Large business

d)

extra small business

10.

Services that have been traditionally been performed at home are part of which industry?

a)

Tertiary

b)

Primary

c)

Quinary

d)

Secondary

11.

A business that is owned and operated by a single person is known as a...

a)

Partnership

b)

Sole trader

c)

Private company

d)

Public company

12.

The owner of a business being responsible for all debts is known as....

a)

Limited liability

b)

Unlimited liability

13.

Environmental factors over which businesses have very little control over are known as...

a)

internal

b)

existing

c)

external

d)

international

14.

Periods of growth in the economic cycle are known as...

a)

Recession

b)

troughs

c)

busts

d)

booms

15.

What is the first stage of the business life cycle?

a)

Post-maturity

b)

growth

c)

maturity

d)

establishment

16.

Which of the following best describes the term limited liability? If the business fails:

a)

Personal possessions of the owner can be taken to pay any debts

b)

The owner is personally liable for all the debts of the business

c)

There is no limit on the amount the owner has to pay to settle debts

d)

The owner only loses the amount invested in the business

17.

What are the owners of private and public limited companies called?

a)

Stakeholders

b)

Managers

c)

Board of directors

d)

Shareholders

18.

What can a business sell?

a)

goods

b)

services

c)

goods and services

19.

Who is an entrepreneur?

a)

someone who works for a large company

b)

someone who studies business in University

c)

someone who starts their own business

20.

What is profit?

a)

the money you spend - the price you sell it for

b)

the price you sell if for- the money you spend

c)

the price you sell it for + the money you spend