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WorksheetsITB TUTORIAL ASSIGNMENT
Total questions: 30
Worksheet time: 16mins
An assets can be more valuable if _______.
the resources is scarce
the resources is easy to find
the durability is low
less skillful needed to produce the assets
A knowledge related to the relationship between ‘demand’ and ‘supply’ is a study related to _______.
microeconomics
macroeconomics
international trades
operation management
One of the sources of fund in starting a business is ________.
income statement
balance sheet
equity share
human resource
Which of the followings is a factors of production?
labor
supplier
brand name
bank
Which of the followings are TRUE in explaining definition of business ?
i. an activity to produce and sell
ii. main purpose is to gain profits
iii. to fulfil the society needs and wants
iv. to provide create a safe community
i and ii
i, ii and iii
ii and iv
all above
Business resources can be divided into _______.
three
four
five
six
Listed below are the examples of tangible assets, EXCEPT:
plant
equipment
employees
reputation
Shortage of financial resources need to be avoided because _______.
it can brings bad impact to the business growth
it can help to reduce market competition
it can decease the market uncertainty
it can help to reduce monthly expenses
Which of the followings are the functions of human resources management?
recruitment
selling
promotion
producing output
The best financial resources management approach is ________.
important to achieve the objective of the company
possibly attained by cutting the cost tightly to increase profit
helping in reducing the organization size
maximizing marketing activities
Restaurant, saloon and barber shop is categorized as ________.
product
service
retail
manufacturing
SWOT analysis is an acronym for the words _______.
strength, weakness, opportunity and threat
strength, willingness, organizing and treats
strong, weakness, organizing and threats
strong, willingness, opportunity and treats
In _______ economic country, the factors of production are most often controlled by business owners and investors.
capitalism
socialism
islamic
mixed
In ________ systems, the government (or community) often exerts greater control over the factors of production.
socialist
capitalist
mixed economy
islamic
Types of business that owned by only one owner is called ________.
sole proprietorship
partnership
private limited company
public limited company
Maximum limit for the owner of public limited company is _______ persons.
20
50
70
no limit
China, Yugoslavia, Czechoslovakia, and Poland are the examples of ________.
mixed economy
islamic economy
capitalism economy
socialism economy
In ________every individual has the right to make their own economic decisions without any interference.
capitalism economy
socialism economy
mixed economy
Islamic economy
One of the disadvantages of socialism economy is ________.
lack of incentives and initiative by individuals
leads to inequalities in income
firms can get monopoly over workers and consumers
no serious unemployment
‘A partnership formed to achieve a specific goal or to operate for a specific period of time’
Above statement is refers to _________.
licensing
exporting
joint ventures
countertrade
Various social forces such as customs, beliefs, literacy rate, educational levels and lifestyle are categorized as _______.
economic environment
social environment
technological environment
political environment
“Advertisement of Alcoholic products is prohibited and it is compulsory to give statutory warning on advertisement of cigarettes”
Above statements, are the example of ______.
political environment
economic environment
legal environment
technological environement
One of the disadvantages of opening a small business is _______.
reduce in sales
low quality of product manufactured
less focus in managing the business
limited ability to raise capital
________ is a principles that contains behavioral codes to determine what is right and what is wrong.
ethics
management
roles
motivation
It is important to be ethical in business because ________.
to attract customers and investors
to reduce competitor
to increase competitive advantage
to create public awareness
________ issues arise when a businessperson takes advantage of a situation for personal gain rather than for the employer’s interest.
miscommunication
dishonesty
conflict of interest
careless
The first steps in the guidelines for making ethical decision is ________.
identify the best options
create & analyze options
identify ethical issues
listen and learn
________ is complete halt to trading with a particular nation or in a particular product.
import quota
embargo
currency devaluation
tariff
Listed below are the negative effects of trade restriction, EXCEPT:
higher price
less choice
reducing uncertainties
damaging future competitiveness
Domestic grants provided by the government to encourage exports is called ______.
subsidy
tariff
discount
commission
