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1.1 True or False Quiz

 Reading task

Unit 1.1 - True of False Quiz

To test your understanding of this topic (Introduction to Business Management), answer the following true or false questions.

No.StatementTrue or False?
1.Businesses aim to satisfy the needs and wants of individuals and other organizations, such as by providing a service or manufacturing a product.

True

2.A business can be defined as a decision-making organization established to produce goods and/or provide services.

True

3.Capital, as a factor of production, refers to any non-natural (or manufactured) resource used in the production process.

True

4.The human resource department of a business is responsible for ensuring that the business has sufficient funds in order to conduct its daily operations.

False - this is the role of Finance & Accounts

5.In order to create goods and services, businesses need to combine human, financial, physical, and entrepreneurial resources.

True

6.The marketing function of a business is about advertising the goods and services of the organization.

False - it is more than just about advertising

7.The secondary sector of the economy involves the extraction of raw materials, farming, fishing, forestry and mining.

False - these are examples of the primary sector

8.Adding value is the term used to describe the process of creating a product that is worth more than the total costs of the inputs used.

True

9.The tertiary sector of the economy comprises of businesses that provide services to individual customers and other businesses.

True

10.The marketing department is responsible for identifying and meeting the needs and wants of customers, usually for a profit.

True

11.The tertiary sector of the economy focuses on providing services related to knowledge and information, with heavy reliance on ICT and digital media.

False - this refers to the quaternary sector

12.Car manufacturing is an example of an industry operating in the secondary sector of the economy.

True

13.The secondary sector of the economy includes the construction industry.

True

14.In economically less developed (low income) countries, the majority of people are employed in the primary sector.

True

15.A childcare centre is an example of a business which operates in the quaternary sector.

False - it is an example of the tertiary sector

16.The entrepreneur is a visionary who is willing and able to take calculated risks for a business start-up or to run a commercial organization.

True

17.An IB World School operates in the tertiary sector.

True

18.An entrepreneur is a person who develops new products or services in a large organisation for the benefit of their employers.

False - entrepreneurs run small firms too, for themselves

19.A copper mine business operates in the primary sector.

True

20.Reasons to start up a business include independence from working for someone else and the desire to pursue a personal interest or passion.

True

 Teacher only box

Teachers can download a PDF version of this quiz to use with students in class. Remember that you can activate Student Access so that students can use the above interactive quiz on the website for revision purposes.

To download the quiz, click the link here.

Return to the Unit 1.1 - What is a business? homepage

Return to the Unit 1 - Introduction to Business Management homepage

 


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