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Understanding Business

Quiz by Hazel Duncan

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30 questions
Show answers
  • Q1
    Which of the following is not a resource?
    Machinery
    Money
    Teacher
    Trees
    30s
  • Q2
    Name the missing resource - Land, Labour, Enterprise
    Capital
    Consumer
    Competition
    Capitation
    30s
  • Q3
    What is the Business and Economic definition of Land.
    Shortage of resources
    Human resources
    Natural resources
    Man-made resources
    30s
  • Q4
    Goods are:
    Wants
    Needs
    Tangible
    Intangible
    30s
  • Q5
    Consumption means:
    Preserving
    Conserving
    Leasing
    Using Up
    30s
  • Q6
    Natural resources are produced in the:
    Secondary Industries
    Quaternary Industries
    Primary industries
    Tertiary Industries
    30s
  • Q7
    Which of the following is not a sector of the economy
    Private
    Third
    Public
    Primary
    30s
  • Q8
    Which of the following is not in the third sector
    partnerships
    voluntary groups
    clubs
    charities
    30s
  • Q9
    Poor customer service can result in
    Decrease in profits
    Customer loyalty
    Recommendation to others
    Increase in profits
    30s
  • Q10
    Customers who receive good service may
    Leaving negative review
    Recommend the business to others
    Fill in a complaints form
    Not return
    30s
  • Q11
    Customer loyalty is when
    Consumers return to the business
    Consumers lie
    Consumers take legal action
    Customers go to competitors
    30s
  • Q12
    Cost of unhappy customers
    Potential employees don't apply for jobs
    Consumers recommend to others
    Business receives good reputation
    Consumers become loyal
    30s
  • Q13
    Which of the following is a disadvantage of a sole trader
    Can keep all of the profits
    Can make all decisions
    Unlimited liability
    Limited liability
    30s
  • Q14
    A private limited company
    has unlimited liabilty
    has 2-20 partners
    has limited liability
    sells shares on the stock market
    30s
  • Q15
    Private limited companies
    have unlimited shareholders
    have no shareholders
    have 2-20 partners
    have a minimum of 2 shareholders
    30s

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