12 Questions
An entrepreneur creates a new business by avoiding all risks and uncertainties.
False
Management is primarily about making decisions.
True
The functions of an organization include capital, human resources, and politics.
False
Studying business helps in understanding business activities and profitability.
True
Entrepreneurs are characterized by good thinking, desire for responsibility, and low energy levels.
False
Small businesses contribute significantly to the global economy.
True
Marketing is responsible for recruiting, hiring, training, developing, and supporting employees.
False
Standard of living is a measure of how well a person or family is doing in terms of satisfying needs and wants with goods and services.
True
Finance and accounting in a business are responsible for ensuring that the company has the funds it needs to operate.
True
Management is primarily focused on determining what products customers want and planning and developing those products.
False
Service is an example of a tangible product.
False
Marketing is mainly about coordinating employee actions and organizing people for efficiency.
False
Test your knowledge on the functions of an organization, management, marketing, and the importance of studying business. Questions cover topics such as products, capital, human resources, decision-making, the 4Ps of marketing, and career development.
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