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Chapter 1: Purpose of Business Activity Flashcards | StudBud

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Chapter 1: Purpose of Business Activity

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A quiz to help students to understand business activity at IGCSE Business Studies Level.

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Questions 8

Answers

1
All of the following are common business objectives (aims) except:
to pay taxes
to grow
to make profits.
to survive
2
The main objective of a newly formed business is most likely to be:
maximum profit
providing a service to the community
survival
rapid growth
3
Which of these is the best definition of the ‘economic problem’?
There are not enough resources to satisfy people’s wants.
There are too many factors of production.
People do not have enough money.
4
Which of the following is NOT a factor ofproduction?
oil reserves
skilled labour
music CDs
factory buildings
5
One of the drawbacks to division of labour is that:
workers spend time on training to do several different jobs
output and efficiency falls
no machinery is used and this slows down production.
workers can become bored through concentrating on one job
6
Which of the following is NOT one of the benefits of business growth?
Management will have less work to do.
The business will probably become more secure.
Market share will probably rise.
Sales will increase.
7
Which stakeholders in a business are paid a salary by the business and lead and direct it?
the government
the workers
the consumers
the managers
8
Division of labour can be defined as:
Workers specialise on just one task and become better at it.
Workers become specialist in all jobs.
All firms only have one worker
No workers are employed as machines always do all the work.