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WorksheetsBusiness Management – Quizizz (Wayground)
Total questions: 60
Worksheet time: 30mins
What is the main goal of any business?
To increase employee satisfaction
To provide free services to the community
To seek profit by satisfying customer needs
To reduce competition in the market
What is the term for the money a company earns from selling goods or services?
Profit
Capital
Revenue
Equity
What remains after all business costs are deducted from revenue?
Sales
Profit
Margin
Interest
Which term describes something that makes a product more attractive than its competitors?
Business model
Competitive advantage
Profit margin
Market share
Which type of organization provides goods and services without the motive of making profit?
Goods-producing business
Service business
Nonprofit organization
Partnership
What type of business focuses on creating tangible products?
Service business
Goods-producing business
Retail business
Consulting firm
Which of the following is true about service businesses?
They are capital-intensive
They are labor-intensive
They produce tangible goods
They depend only on technology
What is a barrier to entry?
A product’s unique feature
A company’s marketing campaign
A resource needed before joining a market
A company’s profit limit
What is meant by a “business mindset”?
A consumer’s perspective
Understanding decisions and challenges in running a business
A focus only on product design
The study of employee behavior
Which environment includes laws and government regulations?
Social environment
Market environment
Legal and regulatory environment
Technological environment
Which environment involves innovations and new processes from science?
Economic environment
Technological environment
Social environment
Legal environment
1. Which environment involves customers and competitors?
Market environment
Social environment
Economic environment
Political environment
Which business function focuses on conceiving and designing new products?
Marketing
Human Resources
Research and Development (R&D)
Finance
Which business function manages a company's money and prepares reports for investors?
Human Resources
Finance and Accounting
Production
Marketing
What is the main responsibility of Human Resources (HR)?
Producing goods
Designing new products
Recruiting, developing, and supporting employees
Managing business data
What is professionalism?
Following instructions without question
Performing at a high level with pride and purpose
Having more years of experience
Being the fastest employee
What is etiquette in a professional setting?
Company dress code
Expected norms of behavior
Personal preference
Written company policy
What is disruptive innovation?
A minor product improvement
A new idea that slightly changes an industry
A development that can create or destroy entire industries
A failed innovation
What is digital transformation?
Replacing workers with machines
Updating office equipment
Reimagining business operations for the digital era
Creating social media advertisements
Which of the following is an essential business skill?
Guessing customer needs
Communication and critical thinking
Memorizing business laws
Avoiding teamwork
What is economics?
The study of human history
The study of how a society uses scarce resources to produce and distribute goods and services
The study of politics and government
The study of business laws
What is meant by scarcity in economics?
Unlimited supply of resources
Condition where resources are limited but wants are unlimited
A surplus of products in the market
A rise in employment
What is the term for the value of the best alternative not chosen?
Trade deficit
Opportunity cost
Inflation
Supply cost
Which of the following is NOT a factor of production?
Capital
Knowledge
Technology
Natural resources
What does GDP stand for?
Gross Domestic Product
Global Demand Percentage
General Domestic Price
Government Development Plan
Which of the following describes microeconomics?
Study of total national output
Study of consumer and business decisions at small scale
Study of inflation and unemployment
Study of global markets
Macroeconomics deals with:
Company profit analysis
Individual consumer choices
Broad issues like government policy, inflation, and growth
Market pricing strategies
What is a planned economy?
One controlled mainly by supply and demand
One where the government controls most economic decisions
A system with no government interference
A system based on private ownership
What is a free-market system?
Decisions are made by government ministries
Decisions are made by buyers and sellers in the market
All prices are set by law
It forbids private ownership
Capitalism is best described as:
Economic system based on government control
Economic system based on economic freedom and competition
System with no private property
A social welfare model
What is nationalization?
Selling government services to private firms
Government takeover of private industries
The process of deregulation
The privatization of public assets
Which government policy deals with money supply regulation?
Fiscal policy
Tax policy
Monetary policy
Price control policy
Which policy uses taxation and spending to influence the economy?
Fiscal policy
Monetary policy
Price policy
Labour policy
What is demand?
The ability and willingness of buyers to purchase goods at various prices
The number of goods available
The supply of products in the market
The total cost of production
What happens at the equilibrium price?
Supply exceeds demand
Demand exceeds supply
Quantity demanded equals quantity supplied
The government sets the price
Which type of competition involves many sellers offering similar products?
Monopoly
Oligopoly
Monopolistic competition
Pure competition
What is inflation?
Continuous decrease in prices
Steady increase in prices across the economy
Sudden shortage of goods
High unemployment
What are the four main functions of money?
Trade, wealth, exchange, and loan
Medium of exchange, unit of account, store of value, and standard of deferred value
Spending, saving, investing, and donating
Borrowing, lending, saving, and trading
What is the Federal Reserve System responsible for?
Setting minimum wage
Regulating the nation’s money supply
Collecting taxes
Issuing credit cards
What does fintech refer to?
Traditional banking
Financial technologies improving or disrupting services
Government finance policies
Corporate tax systems
What is international trade?
Trade within one country
Exchange of goods, services, and capital between countries
Buying only from local producers
Trade only in digital products
What is exporting?
Selling goods to local markets
Selling goods or services to other countries
Buying foreign products
Storing goods in warehouses
What is importing?
Selling local goods abroad
Buying goods or services from other countries
Selling services online
Producing goods domestically
What is the balance of trade (BOT)?
The total value of goods produced in a year
The difference between exports and imports
The number of workers employed in trade
The total government revenue
A trade surplus happens when:
Imports are greater than exports
Exports are greater than imports
Imports and exports are equal
No trade occurs
A trade deficit means:
Exports > Imports
Imports > Exports
Equal exports and imports
No imports at all
Why do countries trade with each other?
To reduce global communication
Because no country can produce everything it needs
To increase unemployment
What does ‘comparative advantage’ mean?
Producing at the highest cost
Producing goods at a lower opportunity cost
Producing everything domestically
Buying cheaper goods abroad only
Which is NOT a benefit of international trade?
Access to larger markets
Increased variety of goods
Job creation
Economic isolation
Which of the following is a disadvantage of international trade?
Creates global innovation
Increases global cooperation
Causes dependence on other countries
Improves consumer choices
What is globalization?
Isolation of national economies
Increasing integration of national economies
A reduction in international communication
Only local business expansion
Which organization sets global trade rules and resolves trade disputes?
United Nations
World Trade Organization (WTO)
ASEAN
World Bank
The IMF’s main role is to:
Control world prices
Provide financial aid to countries with payment difficulties
Manage import quotas
Set global tax policies
Which organization provides loans for development projects?
ASEAN
World Bank
WTO
IMF
Which trade bloc includes Malaysia as a member?
European Union (EU)
ASEAN
NAFTA
APEC only
What is culture in international business?
A country’s weather conditions
Shared values, beliefs, and customs
Legal regulations
Political structure
What does ethnocentrism mean?
Judging others based on one’s own culture
Accepting all cultures equally
Promoting cultural diversity
Ignoring cultural differences
What is a joint venture?
One company buys another
Two companies from different countries share resources and risks
Company works alone abroad
A local-only partnership
What is franchising?
Owning 100% of a foreign company
Allowing another business to operate under your brand and system
Buying foreign licenses
What is a global strategy?
Adapting products for each local market
Selling the same product and strategy worldwide
Focusing on one region only
Ignoring local culture
