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Questions and Answers
Which of the following best describes business activity?
Which of the following best describes business activity?
- The activity of distributing goods and services to consumers.
- The act of producing goods and services for personal use.
- The process of buying and selling goods and services.
- The economic activity of creating goods and services to meet the needs and wants of society. (correct)
What is the purpose of business activity?
What is the purpose of business activity?
- To meet the personal needs and wants of the business owner.
- To create employment opportunities for the community.
- To maximize profits for the business owner.
- To generate value for society through the production and sale of goods and services. (correct)
Which of the following is a need?
Which of the following is a need?
- Designer clothing
- Food (correct)
- Luxury car
- Smartphone
Which of the following is a want?
Which of the following is a want?
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What is the economic problem related to needs and wants?
What is the economic problem related to needs and wants?
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