Ch.1 Business Activity
3 years ago
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  • Question 1
    20 seconds
    Q. Which of these is the best definition of the ‘economic problem’?
    answer choices
    People do not have enough money.
    There are not enough resources to satisfy people’s wants.
    There are too many factors of production.
  • Question 2
    20 seconds
    Q. Which of the following is NOT a factor ofproduction?
    answer choices
    oil reserves
    factory buildings
    skilled labour
    music CDs
  • Question 3
    20 seconds
    Q. Division of labour can be defined as:
    answer choices
    Workers specialise on just one task and become better at it.
    Workers become specialist in all jobs.
    All firms only have one worker
    No workers are employed as machines always do all the work.
  • Question 4
    20 seconds
    Q. One of the drawbacks to division of labour is that:
    answer choices
    output and efficiency falls
    workers spend time on training to do several different jobs
    workers can become bored through concentrating on one job
    no machinery is used and this slows down production.
  • Question 5
    20 seconds
    Q. All of the following are common business objectives (aims) except:
    answer choices
    to grow
    to pay taxes
    to survive
    to make profits
  • Question 6
    30 seconds
    Q. Which of the following is NOT one of the benefits of business growth?
    answer choices
    Sales will increase.
    Market share will probably rise.
    The business will probably become more secure.
    Management will have less work to do.
  • Question 7
    30 seconds
    Q. Which stakeholders in a business are paid a salary by the business and lead and direct it?
    answer choices
    the government
    the workers
    the consumers
    the managers
  • Question 8
    30 seconds
    Q. The main objective of a newly formed business is most likely to be:
    answer choices
    maximum profit
    rapid growth
    providing a service to the community
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