Quiz: Grade 10 Business Fundamentals Test
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- 1.The amount of money required for each stage of production, such as raw materials.
- 2.Does not seek profit as its primary motive, but instead raises funds for a specific goal
- 3.People no longer want the item, or they want a new or improved item that replaces it
- 4.Having the ability to pay your debts and meet financial obligations:
- 5.The 2nd stage of the making process is....
- A.
Make a decision and take action
- B.
Evaluate the alternatives
- C.
Evaulate the decision, was it a good decision
- D.
Identify the alternatives
- E.
Determine what decision has to be made
- 6.The quality of a good or service that consumers are willing and able to buy at a particular price:
- 7.The value of a product or service expressed in dollars and cents:
- 8.A ________ __________ matches the skills of two different businesses, generating benefits for both parties.
- 9.Relies on the goods and services provided by thousands of businesses to satisfy consumer needs and wants:
- 10.Which one of these is incorrect?
- A.
As price increases, consumers buy less
- B.
As price decreases, consumers buy more
- C.
Both of these are corect
- 11.Boston Pizza is an example of....
- A.
International Franchise
- B.
Offshoring
- C.
Partnership
- D.
Joint Venture
- E.
None of the above
- 12.Canada's economy is a _________ economy.
- 13.In a Co-operative business, you get a vote for each number of stock you own.
- A.
True
- B.
False
- 14.
- 15.A trade deficite is...
- A.
When a country's exports pay more than their imports costs
- B.
When a country's imports cost more then the money earned from their exports
- C.
When a country's exports and imports are balanced out
- D.
None of the above
- 16.Jeff Wigand was known as a _________ __________ because he told confidential information about information about his company regarding an ethical issue.
- 17.What are the disadvantages of Sole Proprietorship?
- A.
Unlimited liability
- B.
Financing may be difficult
- C.
You are your own boss
- D.
A and B
- E.
All of the Above
- 18.In an Partnership, an advantage is that both you and your partner share ____________
- 19.In a Corporation, people with ________ little shares have _________ influence.
- A.
People with little shares have minimal influence
- B.
People with little shares have same influence
- C.
People with many shares have minimal influence
- D.
All of the Above
- E.
None of the above
- 20.Canadian coins are made at the ________ Canadian Mint.
- A.
Regional
- B.
National
- C.
International
- D.
Provinicial
- E.
None of the Above
- 21.The paper money is printed on has no ________, except what we give it.
- 22.OAS is the 3rd level of Canada's retirement.
- A.
True
- B.
False
- 23.Which of these statements if false about OAS?
- A.
Modest monthly pension
- B.
You must be over 65 years to recieve it
- C.
You have to pay into it
- D.
They are all correct
- 24.The three options in Private pensions/savings is TFSA RESP ...
- 25.Good reason to invest in a company:
- A.
It has been around for a long time and has lasted through a lot
- B.
You are going to invest in it for at least 5 years
- C.
It is selling lower than what is worth
- D.
All of the above
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