This quiz assesses first-year students on basic business concepts, including the definition of profit, types of organizations, and ethical decision-making. It's designed to test understanding of essential economic principles and ethical considerations in business.
True
False
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When prices increase, consumers buy less
The expenses after are paid costs
The income that is left after all costs and expenses are paid
Borrowing money to run a business.
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Things you like to have
Things you do not need to survive but have them as entertainment such as IPods and PS4
Things you need in life to survive such as water, food and shelter
Stuff you need for fun
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True
False
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The relationship between a country's total imports and exports
The rules that help us tell the difference between right and wrong and encourage us to do the right thing
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True
False
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An organization that does not seek profit, but instead raises money for a charity,
An organization where you buy from
Not-for-profit organization: Is an organization such as housing or child-care Co-operative that also does not seek a profit.
An organization that borrows money to run a business.
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The rules that help us tell the difference between right and wrong and encourage us to do the right thing
Borrowing money to run a business
Is the relocation of a company’s operations to another country
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Borrowing money to run a business
Useing someones money and not giveing it back
Using yours savings or investor’s savings to run your business
: is the relocation of a company’s operations to another country
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True
False
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Thins that you want in life
Things you need in life to survive such as water, food and shelter
The relationship of increasing the quantity supplied as prices increase
Things you do not need to survive but have them as entertainment such as IPods and PS4
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Taking money
Borrowing money to run a business
Makeing money
Using yours savings or investor’s savings to run your business.
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When prices increase, consumers buy less
The income that is left after all costs and expenses are paid
The relationship of increasing the quantity supplied as prices increase
Borrowing money to run a business
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True
False
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An organization that does not seek profit, but instead raises money for a charity,
A group of like-mind people
A type of business
An organization such as housing or child-care Co-operative that also does not seek a profit
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