Business Studies: The Purpose Of Business Activity Quiz

7 Questions | By Irvindelbrah | Last updated: Mar 22, 2022 | Total Attempts: 777

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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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