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Business Environment
Test Description: Business definition, factors of production, business functions, business sectors
Instructions: Answer all questions to get your test result.
1) A business in an entity that combines ... in order to ...
A
human, physical and financial resources ... produce goods and services to satisfy customers needs.
B
all kind of respurces .... increase profit
C
human, physical and financial resources ... produce services.
D
friends, financial resources and time ... satisfy customer needs.
2) An example of a business is...
A
a lemonade stand
B
free classes
C
a library
D
goods exchange
3) What are the factors of production?
A
land, labour, capital, business
B
entrepreneurship, marketing, labour, money
C
land, labour, capital, entrepreneurship
D
capital, business, money, labour
4) An example of land is...
A
raw materials
B
manager
C
workers
D
money
5) an example of labour is...
A
work
B
an executive officer
C
a car driver
D
a building
6) Which of the following represents capital?
A
investors´s money and raw materials
B
money given by investors
C
equipment and entrepreneurs
D
financial resources and capital goods
7) What is meant by entrepreneurship?
A
It is the strategies applied to direct a business.
B
It is a mind map of the company.
C
It is the driving force of a busines which combines the other factors of production.
D
It is the driving force of an economy which combines land and capital.
8) A pizza oven is...
A
land
B
entrepreneurship
C
capital
D
labour
9) McDonnald´s drive thru worker
A
entrepreneurship
B
labour
C
capital
D
land
10) a beach front property is...
A
capital
B
labour
C
land
D
entrepreneurship
11) What are the business functions?
A
land, labour, capital, human resources
B
production, marketing, finance, entrepreneurship
C
marketing, capital, human resources, entrepreneurship
D
human resources, production, finance, marketing
*select an answer for all questions
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