Podcast
Questions and Answers
What is the primary purpose of a for-profit business entity?
What is the primary purpose of a for-profit business entity?
- To fulfill a charitable mission
- To provide goods or services in exchange for profits (correct)
- To further a social cause
- To be controlled and managed by the government
Which of the following is not considered a characteristic of a business?
Which of the following is not considered a characteristic of a business?
- Regularity of purchases and sales (correct)
- Financing
- Management
- Economic activities
What is the primary role of a businessman (entrepreneur) in establishing a business?
What is the primary role of a businessman (entrepreneur) in establishing a business?
- To visualize and take the initiative for the business (correct)
- To manage the business operations
- To provide financing
- To control and minimize the risks involved
Which of the following is not a characteristic of a business?
Which of the following is not a characteristic of a business?
Which of the following is not a requirement for a business to be considered a regular business activity?
Which of the following is not a requirement for a business to be considered a regular business activity?
What is the main tool for earning more profit according to the text?
What is the main tool for earning more profit according to the text?
Which factor is highlighted as necessary for business as per the text?
Which factor is highlighted as necessary for business as per the text?
What is a key benefit of organization in business according to the text?
What is a key benefit of organization in business according to the text?
What may lead to a decrease in prices of commodities in the market as mentioned in the text?
What may lead to a decrease in prices of commodities in the market as mentioned in the text?
What plays a role in determining the correct form of ownership for a business?
What plays a role in determining the correct form of ownership for a business?
