Understanding business activity

A vibrant illustration of diverse business activities, showcasing manufacturing, services, and entrepreneurship in an urban setting, with people engaged in various jobs and industries.

Understanding Business Activity Quiz

Test your knowledge about business activities with our engaging quiz! This quiz consists of 10 questions designed to challenge your understanding of fundamental business concepts.

Key features of the quiz:

Multiple choice and checkbox questions
Instant feedback on your answers
Perfect for students and professionals alike

10 Questions2 MinutesCreated by StudyingStar_42

The purpose of business activity is:

A to increase sales

B to produce products to satisfy customer needs

C to reward shareholders

D to provide employment.

3 One of the benefits of specialisation is:

A increased sales

B increased output

C increased variety of tasks for workers

D increased costs of production.

4 Added value is:

A the difference between revenue and total costs

B the difference between output and sales

C the difference between costs of raw materials and selling price

D the difference between making a profit or making a loss.

5 Which of the following is not an example of primary sector business activity?

A Forestry

B Fishing

C Oil refining

D Mining for gold

6 Tertiary sector business activity is:

A providing services to consumers only

B turning raw materials into finished goods

C the extraction of natural resources

D providing services to consumers and businesses.

7 Developing economies will usually have:

A a small primary sector

B a large tertiary sector

C a large primary sector

D no secondary sector.

8 Which of the following is not a private sector form of organisation?

A Sole trader

B Public limited company

C Franchise

D Public corporation

9 The best description of an entrepreneur is someone who:

A starts a business and always earns a lot of money

B has an idea for a business and does not take risks

C starts a business and is prepared to take financial risks

D takes financial risks and always earns high profits.

10 A business plan might be used to:

A mislead people into investing in a business

B show how much profit a business might make

C provide competitors with information about a business

D identify why a business is making losses.

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Understanding business activity

Understanding Business Activity Quiz

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