Business Start-ups and Entrepreneurship Quiz
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Questions and Answers

What is an organisation?

  • A location for providing social responsibility
  • A group of people working together to achieve a common goal (correct)
  • A system for maximizing profit
  • A place where goods and services are produced
  • What are goods and services?

  • Goods and services are only relevant to the public sector
  • Goods are tangible items and services are tasks done for us (correct)
  • Goods are services and services are goods
  • Goods are intangible items and services are tangible items
  • What are the factors of production required to achieve business objectives?

  • Land, technology, capital, and enterprise
  • Land, labor, capital, and enterprise (correct)
  • Land, labor, technology, and entrepreneurship
  • Labor, technology, capital, and enterprise
  • What is the main purpose of business objectives?

    <p>To achieve profit maximization, survival, growth, and social responsibility</p> Signup and view all the answers

    What does the term 'enterprise' refer to in the context of business?

    <p>The entity that combines the factors of production to produce goods and services</p> Signup and view all the answers

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