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WorksheetsPOB Unit 1 Revision for Class Test
Total questions: 15
Worksheet time: 10mins
Business is a general term that describes the use of _____ and activities to produce goods or provide services essential in our daily lives to satisfy the needs of our society.
resources
expenses
demand
people
The objectives of a business for the owner is to provide him with (a) and personal satisfaction.
Factors of production are resources used by businesses to generate outputs for ____________.
society
government
nature
businesses
suppliers
Which of the following is NOT a factor of production?
land
labour
entrepreneurship
capital
profit
______ refers to all natural resources / tangible inputs used in the production process.
Land
Labour
Capital
Entrepreneurship
(a) refers to the physical and mental input of the people who work for the business to produce goods and services.
The funds necessary to finance the operation of a business is known as
(a)
Land / material can be either in a natural state, man-made, tools and component parts or semi-finished goods.
True
False
Workers depends on the business' financial success because their futures and (a) depend on it.
A good working relationship between labour (workers) and management will lead to
difficulty in coping with change
increased conflict
job insecurity
reduced absenteeism
poor morale
Which of the following is NOT a stakeholder in a business?
workers
workers' unions
suppliers
welfare organisations
parents
The TWO reasons why government is interested in the success of a business are that a successful business will
contribute to the nation's economic growth
provide tax for government to implement social policy
decrease the productivity of its workers
offer financial contributions to welfare organisations
Business is a general term that describes the use of _____ and activities to produce goods or provide services essential in our daily lives to satisfy the needs of our society.
resources
expenses
demand
people
What is the role of an entrepreneur in the production of goods or services?
Organising different factors of production
Supervising the workforce
Managing financial resources
Marketing the products
An entrepreneur is said to be able to profit from his business when the
money he spends exceeds his profits.
money he receives exceeds his expenses.
money is receives is equal to his expenses.
money he receives is more than the previous year.
