1.1 The fundamentals and principles of business Quiz
Authored by Lenna Alexandre
Financial Education
12th Grade
Used 1+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary role of a business in society?
To create art
To provide goods and services
To entertain people
To manage wildlife
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do businesses contribute to government priorities?
By lobbying politicians
By paying taxes
By hosting events
By advertising
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one way businesses can enhance the economic security of a country?
By reducing prices
By importing goods
By investing in local production
By outsourcing jobs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor of production involves natural resources?
Labour
Capital
Raw materials (land)
Entrepreneurship
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the function of management in a business?
To entertain employees
To control factors of production
To write novels
To decorate offices
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is financial prudence in business?
Spending as much as possible
Ignoring budgets
Setting and monitoring budgets
Avoiding financial reports
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a characteristic of a competitive market economy?
Many buyers and sellers
Single government-run business
Monopolistic control
No private ownership
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