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WorksheetsNature and purpose of business
Total questions: 12
Worksheet time: 6mins
Economic Activities =
Business + Profession
Business + Employment
Business + Employment
Business + Profession + Employment
The market share of Nokia phones in India has shrunk from 80% to 20%. Nokia faces business risk arising from
Human Causes
Economic causes
Natural causes
Other causes
It is social unit of people that is structured and managed to meet a need or to pursue collective goals.
Business
Organization
What is an activity of exchanging goods and services, for gaining profit?
Business
Organization
Items that can be seen and touched are known as...
Goods
Services
Someone who starts, operates and assumes the risk of a business is known as an...
Investor
Interest person
Entrepreneur
Business inventor
________________the desire to make money.
Opportunity
Income
Profit motive
Motivation to start a business includes
Opportunity to meet wants and needs of consumers
Opportunity to increase competition in the marketplace
Opportunity to make money in the marketplace
Businesses are investment opportunities for individuals-future income
True
False
The difference between the amount earned and the amount spent in buying, opearating, or producing something.
Service
Goods
Profit
Profit motive
Things that are necessary for survival such as food, shelter, clothing and water.
Wants
Needs
Goods
Services
Things that are not necessary for our survival but add pleasure and comfort to our lives such as TVs, candy bars, jewelry.
Needs
Wants
Goods
Services
