Fundamentals of Business Quiz
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Questions and Answers

What is a business?

  • A social activity that promotes community engagement
  • A government initiative to create jobs
  • A personal endeavor that brings happiness
  • An economic activity that fulfills human needs and wants (correct)

What is the main purpose of a business, as stated in the text?

  • To meet human needs and wants (correct)
  • To create employment opportunities
  • To support social causes
  • To generate profit for the owners

Which of the following is NOT mentioned as a characteristic of a business in the text?

  • Promoting environmental sustainability (correct)
  • Producing goods and services
  • Generating profit
  • Meeting human needs and wants

What is the definition of a business according to the text?

<p>A business is any economic activity which fulfills human needs and wants by producing goods and services.</p> Signup and view all the answers

What is the main objective of a business?

<p>The main objective of a business is to fulfill human needs and wants by producing goods and services.</p> Signup and view all the answers

Give an example of a business activity.

<p>An example of a business activity is the production of goods and services to fulfill human needs and wants.</p> Signup and view all the answers

Which of the following best describes a business?

<p>A way to fulfill human needs and wants (B)</p> Signup and view all the answers

What is the main purpose of a business, as mentioned in the text?

<p>To fulfill human needs and wants (A)</p> Signup and view all the answers

Which of the following is NOT mentioned as a characteristic of a business in the text?

<p>Providing social services (D)</p> Signup and view all the answers

Which of the following best describes the purpose of obtaining goods and services from the market?

<p>To satisfy human needs and wants (D)</p> Signup and view all the answers

What is the main reason why businesses obtain goods and services from the market?

<p>To meet human needs and wants (B)</p> Signup and view all the answers

What is the relationship between goods and services and human needs and wants?

<p>Goods and services fulfill human needs and wants (B)</p> Signup and view all the answers

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