1) What is the primary goal of a business? a) To increase employment b) To serve the government c) To earn a profit d) To reduce competition 2) Which of the following best defines a product? a) Only tangible items sold by a business b) Only services provided by a business c) A good or service with characteristics that provide satisfaction d) Anything that is traded internationally 3) Which type of organization does not have the fundamental purpose of earning profits? a) Sole proprietorship b) Partnership c) Corporation d) Nonprofit organization 4) Who are considered stakeholders in a business? a) Only employees and customers b) Government and society only c) All individuals and groups affected by business activities d) Only the owners 5) What are the three primary activities of a business? a) Manufacturing, Innovation, Expansion b) Management, Marketing, Finance c) Logistics, Strategy, Accounting d) Human Resources, Marketing, Innovation 6) Which of the following is NOT one of the 4 Ps of marketing? a) Place b) Production c) Price d) Promotion 7) In a business, who is primarily responsible for obtaining and managing funds? a) Human Resources b) Finance c) Marketing d) Customers 8) What is economics concerned with? a) Managing employees b) Distributing resources for production c) Promoting business ethics d) Designing marketing campaigns 9) Which of the following is NOT a factor of production? a) Human resources b) Natural resources c) Marketing resources d) Financial resources 10) What is a key characteristic of capitalism? a) Government owns most businesses b) Resources are distributed equally c) Individuals own and operate most businesses d) All decisions are made by the state

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