Question 1

A model is meant to represent reality precisely.

Accepted Answer

A) True 
 B)False  False

Question 2

The provision of education is part of the tertiary sector of the economy.

Accepted Answer

A) True 
 B)False  True

Question 3

Complete the sentence. A sole proprietor has …

Accepted Answer

A)  Unlimited liability. 
B)  Limited Liability 
C)  Shareholders. 
D)  Ltd after its name 
A)  Unlimited liability. 
B)  Limited Liability 
C)  Shareholders. 
D)  Ltd after its name A

Question 4

Complete the sentence. A private company…

Accepted Answer

A)  Has unlimited liability. 
B)  Has limited Liability 
C)  Has plc after its name 
D)  Is part of the public sector 
A)  Has unlimited liability. 
B)  Has limited Liability 
C)  Has plc after its name 
D)  Is part of the public sector

Question 5

Which of the following is not in the macro environment of business?

Accepted Answer

A)  Economic change 
B)  Legal change 
C)  Supplier change 
D)  Technological change 
A)  Economic change 
B)  Legal change 
C)  Supplier change 
D)  Technological change

Question 6

Which of the following is not a function of a business?

Accepted Answer

A)  Marketing 
B)  Finance 
C)  Profit 
D)  Human resources 
A)  Marketing 
B)  Finance 
C)  Profit 
D)  Human resources

Question 7

Which of the following is not in the micro environment of business?

Accepted Answer

A)  suppliers 
B)  customers 
C)  competitors 
D)  new legislation 
A)  suppliers 
B)  customers 
C)  competitors 
D)  new legislation

Question 8

Which of the following is in the primary sector?

Accepted Answer

A)  farmer 
B)  car manufacturer 
C)  bank 
D)  university 
A)  farmer 
B)  car manufacturer 
C)  bank 
D)  university

Question 9

Most business activity is in the service sector. This means the UK business is mainly operating in the primary sector.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is in the tertiary sector?

Accepted Answer

A)  farmer 
B)  car manufacturer 
C)  bank 
D)  Oil refining 
A)  farmer 
B)  car manufacturer 
C)  bank 
D)  Oil refining

Question 11

A company is owned by its managers.

Accepted Answer

A) True 
 B)False

Question 12

According to Mintzberg the roles of a manager are informational, __________ and decision maker.

Accepted Answer

The answer of According to Mintzberg the roles of a...

A model is meant to represent reality precisely.

The provision of education is part of the tertiary sector of the economy.

Complete the sentence. A sole proprietor has …

Complete the sentence. A private company…

Which of the following is not in the macro environment of business?

Which of the following is not a function of a business?

Which of the following is not in the micro environment of business?

Which of the following is in the primary sector?

Most business activity is in the service sector. This means the UK business is mainly operating in the primary sector.

Which of the following is in the tertiary sector?

A company is owned by its managers.

According to Mintzberg the roles of a manager are informational, __________ and decision maker.

Mission and Objectives

Managing Demand

Managing Costs

How Markets Work

Labour Market

Do Markets Work

Different Market Forms

Strategic Planning and the Economy

Strategies for Growth

Analysing the Macroeconomic Environment

Government Macroeconomic Policy and Business

Global Business

Filters

Exam 1: What Is a Business?

A model is meant to represent reality precisely.

The provision of education is part of the tertiary sector of the economy.

Complete the sentence. A sole proprietor has …

Complete the sentence. A private company…

Which of the following is not in the macro environment of business?

Which of the following is not a function of a business?

Which of the following is not in the micro environment of business?

Which of the following is in the primary sector?

Most business activity is in the service sector. This means the UK business is mainly operating in the primary sector.

Which of the following is in the tertiary sector?

A company is owned by its managers.

According to Mintzberg the roles of a manager are informational, __________ and decision maker.

Mission and Objectives

Managing Demand

Managing Costs

How Markets Work

Labour Market

Do Markets Work

Different Market Forms

Strategic Planning and the Economy

Strategies for Growth

Analysing the Macroeconomic Environment

Government Macroeconomic Policy and Business

Global Business

Filters