Quiz: The Nature Of Business

10 Questions | Total Attempts: 1531

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Quiz: The Nature Of Business


Questions and Answers
  • 1. 
    Early economies could be described as:
    • A. 

      Surplus economies

    • B. 

      Service-oriented economies

    • C. 

      Heavy production-oriented economies

    • D. 

      Subsistence economies

  • 2. 
    The system of exchange of goods and services without the use of money is called:
    • A. 

      Trade

    • B. 

      Barter

    • C. 

      Exchange

    • D. 

      Production

  • 3. 
    Which of the following items were used to place a value on goods or services in early economies?
    • A. 

      Money

    • B. 

      Bank notes

    • C. 

      Cheques

    • D. 

      Shells

  • 4. 
    Which of the following is a characteristic of money?
    • A. 

      Acceptability

    • B. 

      Storage

    • C. 

      Unit of account

    • D. 

      Neat

  • 5. 
    This form of business is allowed to advertise publicly for the sale of shares:
    • A. 

      Sole Trader

    • B. 

      Private Limited Company

    • C. 

      Public Limited Company

    • D. 

      Partnership

  • 6. 
    This business is regarded as a franchise:
    • A. 

      Microsoft Corporation

    • B. 

      Grace Kennedy

    • C. 

      Burger King

    • D. 

      Jamaica Broilers

  • 7. 
    This form of payment is a type of loan:
    • A. 

      Debit Card

    • B. 

      Credit Card

    • C. 

      Cheque

    • D. 

      Electronic Transfer

  • 8. 
    This form of business is formed by a group of persons with similar interests to gain benefits.
  • 9. 
    The sleeping partner plays an active role in the day to day operations of the partnership.
    • A. 

      True

    • B. 

      False

  • 10. 
    Unlimited Liability means an investor is not likely to loose his/her personal possessions if the business fails.
    • A. 

      True

    • B. 

      False

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