Business Studies: The Purpose Of Business Activity Quiz

7 Questions | Total Attempts: 561

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Business Study Quizzes & Trivia

This tes is base on the IGCSE book for year 10, and to find the answer you need to look inisde the book on the first unit: Unit 1: Purpose of the business activity.


Questions and Answers
  • 1. 
    What is the definition of: NEED
    • A. 

      A Need is a good or a service essential for living.

    • B. 

      A Need is a good or a service which people would like to have, but which is not to essential for living. People's wants are unlimited

    • C. 

      A Nedd is a good or a service essential for living.

    • D. 

      A Need is none of the answer above

  • 2. 
    What is the definition of: WANT
    • A. 

      A Want is something like food or clothing

    • B. 

      A Want is a good or a service essential for living.

    • C. 

      A Want is a good or a service which people would like to have,

    • D. 

      A Want is none of the answer above

  • 3. 
    What is a: SCARCITY
    • A. 

      A Scarcity is the next best alternative given up by choosing another item

    • B. 

      A Scarcity is the lack of sufficent products to fukfil the total wants of the population.

    • C. 

      A Scarcity is those resources needed to produce goods or services

    • D. 

      A Scarcity is none of the answer above

  • 4. 
    What is the definition of a: STAKE HOLDER
    • A. 

      A Stake Holder is someone that work in the business has a worker.

    • B. 

      A Stake Holder is any person or group with a direct interest in the performance and activities

  • 5. 
    What is the business term for money?
    • A. 

      Dosh

    • B. 

      Capital

    • C. 

      Interest

    • D. 

      Wonga

  • 6. 
     Property owned by a company, regarded as having value and available to meet debts, commitments, or legacies.  
    • A. 

      Liabilities

    • B. 

      Assets

    • C. 

      Capital

    • D. 

      Balance Sheet

  • 7. 
    Which of these is a diagnostic tool?
    • A. 

      Asset Sheet

    • B. 

      Liability Sheet

    • C. 

      Balance Sheet

    • D. 

      Capital Sheet

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