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Questions and Answers
What does the term 'business' generally include?
What does the term 'business' generally include?
- All personal activities
- Activities related to physical fitness
- All human activities concerned with earning money (correct)
- Activities related to hobbies and interests
According to L. H. Haney, how can business be defined?
According to L. H. Haney, how can business be defined?
- Human activities directed toward social welfare
- Human activities directed toward personal satisfaction
- Human activities directed toward artistic expression
- Human activities directed toward providing or acquiring wealth through buying and selling of goods (correct)
What is the most essential and important element of business according to the text?
What is the most essential and important element of business according to the text?
- Innovation
- Marketing
- Customer service
- Capital (correct)
What does business create, which gives benefit to the entire society as well as the businessmen?
What does business create, which gives benefit to the entire society as well as the businessmen?
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According to James Stephenson, what may be called business?
According to James Stephenson, what may be called business?
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What is the external environment of an organization?
What is the external environment of an organization?
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How are organizational boundaries described in the text?
How are organizational boundaries described in the text?
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What does the economic environment refer to?
What does the economic environment refer to?
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What is aggregate output in an economic system?
What is aggregate output in an economic system?
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What does standard of living refer to?
What does standard of living refer to?
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