Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following best defines business?
Which of the following best defines business?
- Exchange of goods, services, or money for mutual benefit or profit
- Engagement in any work
- Engagement in legal activities with the intention of earning profit (correct)
- Engagement in economic activities of production and distribution of goods and services
Who are known as businessmen in the context of the text?
Who are known as businessmen in the context of the text?
- Shopkeepers
- Wholesalers
- Manufacturers
- All of the above (correct)
What do business activities provide in different sectors?
What do business activities provide in different sectors?
- Transportation
- Employment opportunities (correct)
- Goods and services
- Trade
What is the role of shopkeepers in the business chain described in the text?
What is the role of shopkeepers in the business chain described in the text?
Signup and view all the answers
What are the characteristics of business activities?
What are the characteristics of business activities?
Signup and view all the answers
Which of the following best describes an economic system?
Which of the following best describes an economic system?
Signup and view all the answers
Why do economies need to allocate resources efficiently?
Why do economies need to allocate resources efficiently?
Signup and view all the answers
What is the purpose of an economic system?
What is the purpose of an economic system?
Signup and view all the answers
