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WorksheetsBESR QUIZ ACTIVITY
Total questions: 25
Worksheet time: 13mins
It is also known as an enterprise, agency or firm, is an entity involved in the provision of goods and/or services to consumers.
Cooperatives
Business
Organization
Corporation
This term is used to described as those with average income eared, rate of literacy and health services lower than industrialized/developed nations.
Developing States
Developing Business
Developing Countries
Developing Economies
It is the exchange of goods or services for other good and services. This system is rarely practiced in modern economies but still occurs.
Barter
Purchase
Loan
Partners
Specialization is defined as what?
as the division of labor. This is used in production processes in both early and modern economies to complete tasks more efficiently.
as the goods and services provided by firms and manages the economy. They set the Laws that govern households and businesses.
as to produce commodities/ goods and services that services that satisfy needs and wants for its market.
as they obtain and maintain markets through consistent advertising and sales promotion.
_________ is anything that is acceptable for the purchase of goods and services.
Moniy
Manny
Mony
Money
The following are the characteristics of money, except:
Acceptable
Heterogenous
Homogeneous
Portable
The following are the functions of money, except:
It is a medium of exchange. i.e. since money is acceptable by all, person will not have difficulties to trade.
It is a store of wealth. i. e money can be easily stored/saved.
It is a standard for deferred payments. i.e. it can be used to repay debts over time.
It include improved quality of output, and shorter production time.
This is used to pay for goods bought overseas on credit. It is an order in writing from an exporter to an importer requiring payments for a certain sum of money at a fixed future date.
Bank Draft
Cheque
Ecommerce
Credit Cards/ Debit Cards
This is an example of?
debit card
credit card
Cheque
Ecommerce
You are able to make decisions about the direction and operation of the business.
BEING YOUR OWN BOSS
SELF-ACTUALIZATION/ FULFILLMENT
FINANCIAL INDEPENDENCE
TO USE YOUR SKILLS AND KNOWLEDGE FOR YOURSELF
Owning and operating a successful business will give a feeling of accomplishment.
FINANCIAL INDEPENDENCE
SELF-ACTUALIZATION/ FULFILLMENT
TO CREATE EMPLOYMENT FOR RELATIVES
TO USE YOUR SKILLS AND KNOWLEDGE
It is a system that groups people together towards establishing a common goal.
Business
Organization
Corporation
Cooperatives
What is Conglomerates?
They are business entities owned by their members who purchase shares to join them.
They are usually established because of a need existing among a number of persons who wish to acquire particular goods and services at a reasonable cost.
This is a group of unrelated companies under one umbrella . A parent company owns a controlling stake in each company which conducts business separately.
Shares invested in a retail cooperative are used to buy goods in bulk at a very low cost and then resold to members.
They are business entities owned by their members who purchase shares to join them.
Cooperatives
Conglomerates
Multinational
Franchise
Some business begin by the owner acquiring a branch to operate under an already existing business name.
Franchise
Multinational
Conglomerates
Departments
Which among the following is the example for government departments?
This term refers to as are government owned and controlled businesses.
Multinational Companies
Government Departments
Nationalized industries
Business Organizations
It only allows friends, relatives, and co-workers to purchase shares and to be part of the company.
The Private Limited company
The Public Limited company
The Private Unlimited company
The Public Unlimited company
Kathleen is the owner of Kentucky Fried Chicken, which is a global organization directed from a main office. What form of organization is she owning?
Conglomerates
Franchise
Multinationals
Cooperative
Members of a credit union purchase shares in these entities in order to obtain loans at a low interest rates is what example of form of organization?
Cooperatives
Conglomerates
Franchise
Multinationals
It is taking personal responsibility for the environmental costs and consequences of what you purchase and use.
Efficiency and economy
Consumer responsibility
Openness and disclosure
Proportionally
Neil, the owner of clothing line business believes that it is important that he should provide appropriate information on our regulatory decisions , and that he is open and accessible to the regulated community and the general public. What core principle is he practicing?
Transparency
Efficiency
Proportionally
Accountability
What do we mean by Management and Control?
A firm must observe proper standards of market conduct to its management.
A firm must pay due regard to the interests of its customers and treat them fairly.
A firm must conduct business with integrity.
A firm must take reasonable care to organize and control its affairs responsibly and effectively , with adequate risk management systems.
It is the system by which businesses are directed and controlled.
Corporate Governance
Government Organization
Good Governance
Corporate Attire
As a businessman, Vincent, has the obligation and responsibility to give an explanation or reason for the company’s actions and product.
Responsibility
Fairness
Accountability
Transparency
