Business Environment Question Preview (ID: 51551)


Business Definition, Factors Of Production, Business Functions, Business Sectors. TEACHERS: click here for quick copy question ID numbers.

A business in an entity that combines ... in order to ...
a) friends, financial resources and time ... satisfy customer needs.
b) human, physical and financial resources ... produce goods and services to satisfy customers needs.
c) human, physical and financial resources ... produce services.
d) all kind of respurces .... increase profit

An example of a business is...
a) goods exchange
b) free classes
c) a lemonade stand
d) a library

What are the factors of production?
a) capital, business, money, labour
b) land, labour, capital, business
c) land, labour, capital, entrepreneurship
d) entrepreneurship, marketing, labour, money

An example of land is...
a) workers
b) money
c) manager
d) raw materials

an example of labour is...
a) a car driver
b) a building
c) an executive officer
d) work

Which of the following represents capital?
a) money given by investors
b) financial resources and capital goods
c) investors´s money and raw materials
d) equipment and entrepreneurs

What is meant by entrepreneurship?
a) It is the driving force of a busines which combines the other factors of production.
b) It is the driving force of an economy which combines land and capital.
c) It is a mind map of the company.
d) It is the strategies applied to direct a business.

A pizza oven is...
a) land
b) labour
c) capital
d) entrepreneurship

McDonnald´s drive thru worker
a) land
b) labour
c) capital
d) entrepreneurship

a beach front property is...
a) capital
b) land
c) entrepreneurship
d) labour

What are the business functions?
a) human resources, production, finance, marketing
b) land, labour, capital, human resources
c) production, marketing, finance, entrepreneurship
d) marketing, capital, human resources, entrepreneurship

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