WorksheetsBusiness Studies
Total questions: 23
Worksheet time: 12mins
Labor refers to...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
the tools, equipment, and factories used in production of goods and services.
The "gifts of nature" or natural resources not created by human effort.
Entrepreneurs are...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
The "gifts of nature" or natural resources not created by human effort.
the tools, equipment, and factories used in production of goods and services
How many factors of production do we have?
1
4
2
3
Gold and oil can be seen as:
Natural resources
Labour
Capital
Entrepreneurship
WHAT ARE THE 4 FACTORS OF PRODUCTION?
Land, Capital, Need & Want
Land, Labor, Capital, Entrepreneurs
Water, Air, Food & Shelter
Land, Capital, Good & Service
What does productivity mean?
productivity is how products are made
productivity is a measure of how many workers a business has
productivity measures efficiency
productivity measures effectiveness
Which of these is a service?
jogging shoes
plumbing
readymade dress
birthday cake
Cooperative is
customer oriented
sales oriented
profit oriented
service oriented
Which of the following is not a type of cooperative
school cooperative society
industrial cooperative
consumers cooperative society
cooperative farming society
What type of organization is cooperative ?
like a partnership
voluntary organization
profit oriented
established as per company law
Agreement among the partner in the partnership is known as
Partnership deed
Partners agreement
partnership deal
partnership condition
One of the claimed advantages of a sole trader business is that:
Owners have limited liability
Shares can be sold to raise capital
Decisions and responsibilities can be shared
The owner has independence
The best definition of a sole trader form of business organization is:
The business only employs one person
The business is owned by one person
The firm has a single customer
There is a single firm in the industry
Someone who owns their own business:
receives all of the profit
splits it with a partner
gives some of the profit to the shareholders
does not receive any profit
Timi set up a greasy pizza shop right beside a high school to take advantage of the unhealthy eating habits of teens. What type of ownership is this?
Partnership
Sole Proprietorship
Cooperative
Corporation
Name the cooperative society that provides loan to its members at easy terms and reasonable interest
Marketing Cooperative societies
Consumers Cooperative Societies
Credit Cooperative societies
Credit Cooperative societies
Which of the following is not a feature/s of cooperative society?
Separate legal status
Distribution of profit
No government control
Voluntary association
Registration
The maximum number of partners allowed in the banking business are
Two
Twenty
No limit
Ten
Which of the following business organisation has service motive?
Sole Proprietorship
Partnership
Cooperative Society
Joint Hindu Family
The existence of a society is not affected by the death, insanity,insolvency etc. True or False
False
True
The existence of a society is not affected by the death, insanity,insolvency etc. True or False
False
True
The existence of a society is not affected by the death, insanity,insolvency etc. True or False
False
True
