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- 1. Multiple Choice
Profit maximization means that a business aims to produce goods and services at a level that achieves the highest level of profit possible
True
False
- 2. Multiple Choice
Profit satisficing means NOT making enough profit to keep the owners of the business happy, resulting in employees having to work many more hours.
True
False
- 3. Multiple Choice
Market share means the amount that a business sells of its products compared with other companies selling similar products.
True
False
- 4. Multiple Choice
Survival means a business will fail in the first year, regardless of any intervention.
True
False
- 5. Multiple Choice
Growth in businesses can occur in different ways. They can try to find new customers, open in new countries or start making new products.
True
False
- 6. Multiple Choice
Corporate social responsibility (CSR) is when a business has NO consideration for the impact it has on the community and the environment.
True
False
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