What is a Business? Quiz by Shubhrata Shrestha | Aug 17, 2025 | 0 comments What is a Business? Quiz 1. Which factor of production refers to the human effort, both physical and mental, used in a business? A) Capital B) Labour C) Land D) Enterprise None 2. Which sector involves knowledge-based activities such as ICT and consultancy? A) Primary B) Secondary C) Tertiary D) Quaternary None 3. Which functional area is mainly responsible for workforce planning and recruitment? A) Finance B) Operations C) Human Resources D) Marketing None 4. What does “Autonomy” mean in the context of entrepreneurship opportunities? A) The ability to pass a business to children B) Independence and freedom of decision-making C) The security of guaranteed salary D) Enjoyment of problem-solving None 5. Which of the following is NOT a challenge for start-ups? A) Poor location B) Cash flow problems C) Growth opportunities D) Lack of finance None 6. In the chain of production, which stage comes immediately after extraction? A) Services B) Manufacturing C) Consumers D) Knowledge transfer None 7. Which functional area ensures legal compliance in taxation and prepares financial records? A) Operations B) Marketing C) Finance D) Human Resources None 8. The mnemonic GET CASH highlights: A) Sources of business finance B) Reasons why entrepreneurs face failure C) Opportunities for starting a business D) The four sectors of the economy None 9. Which sector includes businesses like farming, fishing, and mining? A) Secondary B) Primary C) Quaternary D) Tertiary None 10. Which is a risk associated with entrepreneurship? A) Inheritance of business B) Guaranteed financial growth C) Profit satisfaction D) Possibility of financial loss None Time's up Submit a Comment Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ
