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WorksheetsLCVP Quiz 1 – Theory & Concepts (Section A)
Total questions: 28
Worksheet time: 14mins
What does enterprise involve?
Identifying opportunities and taking risks
Avoiding risk and delaying decisions
Following routine procedures only
Maximising profit without innovation
Name one enterprise skill.
Problem-solving
Procrastination
Ignoring market signals
Rigid rule-following
What does SWOT stand for?
Strengths, Weaknesses, Opportunities and Threats
Systems, Workflows, Objectives and Tasks
Skills, Work, Output and Targets
Strategies, Winners, Outcomes and Trends
What is meant by added value?
Improving a product or service to increase its value
Cutting costs by reducing quality
Charging higher prices without making changes
Outsourcing tasks to reduce staff
Name one important teamwork quality.
Cooperation
Competition
Isolation
Dominance
What is lifelong learning?
Learning throughout life
Learning only during school years
Studying until college graduation
Training once at the start of a job
What is a CV used for?
Applying for a job
Paying taxes
Recording sales transactions
Scheduling holidays
What is the role of a trade union?
To protect workers’ rights
To set government policy
To manage company profits
To recruit customers
Name one characteristic of an entrepreneur.
Takes initiative
Avoids risk at all costs
Waits to be told what to do
Prefers no change
What is self-employment?
Working for yourself
Working for a large corporation
Studying full-time
Volunteering without pay
Give one benefit of enterprise to society.
It creates employment
It eliminates jobs
It reduces innovation
It discourages competition
What does initiative mean?
Taking action without being asked
Waiting for instructions
Repeating past tasks only
Avoiding responsibility
Why is communication important at work?
It helps people work together effectively
It increases workplace noise
It reduces collaboration
It delays decision-making
Why is planning important?
It helps achieve goals
It prevents goal setting
It removes flexibility
It reduces accountability
What is decision-making?
Choosing between options
Collecting data without conclusions
Avoiding choices
Following orders blindly
What does adaptability mean?
Ability to deal with change
Refusing to change
Keeping the same routine always
Ignoring new information
What does punctuality mean?
Being on time
Working late regularly
Leaving early often
Arriving whenever convenient
Name one factor affecting supply.
Cost of production
Employee hobbies
Brand logo design
Office paint colour
What does responsibility at work mean?
Being reliable and accountable
Avoiding tasks and blame
Delegating everything to others
Taking credit for others’ work
What is problem-solving?
Finding solutions to problems
Identifying problems without solutions
Ignoring issues when they arise
Creating new problems
What does teamwork involve?
Working with others towards a goal
Working alone exclusively
Competing against coworkers
Avoiding collaboration
Give an example of everyday enterprise.
Running a small business
Watching television
Sleeping late
Ignoring market needs
Name one time-management skill.
Organisation
Procrastination
Guesswork
Indecision
How do education and training help?
They improve skills and opportunities
They reduce employability
They eliminate creativity
They have no impact on skills
What is creativity and innovation?
Developing new ideas and solutions
Repeating existing routines
Copying others exactly
Avoiding change and experimentation
Which skill helps you manage your workload efficiently?
Focusing only on one task
Leaving tasks unfinished
Ignoring deadlines
Time management
What is one benefit of effective communication in a team?
It reduces misunderstandings
It limits information sharing
It discourages feedback
It increases confusion
Which quality is important for problem-solving?
Critical thinking
Ignoring feedback
Repeating mistakes
Avoiding challenges
