| What to create | Exam |
| Which subject | Business |
| What age group | Year or Grade 8 |
| What topic | |
| Question types | Mixed |
| Number of questions | 20 |
| Number of answers | 10 |
| Correct answers | Exactly 1 |
| Show correct answers | |
| Use images (descriptions) | |
| Any other preferences |
Answer the following questions to the best of your ability. For questions with multiple-choice answers, select the option you believe is correct. Good luck!
What is the primary purpose of a business?
Which of the following is a common source of business funding?
A. Personal Savings
B. Lottery Winnings
C. Gifts from Friends
D. Stock Market Losses
E. Credit Card Debt
F. Bank Loans
G. Selling Collectibles
H. Personal Loans
I. Inheritance
J. Online Contests
What is the term for the amount of money a business earns after all expenses are paid?
Which of the following describes a target market?
A. A collection of random customers
B. The group of consumers a business aims to reach
C. A geographical location
D. An advertising campaign
E. All consumers in a country
F. Employees of a company
G. Local businesses in the area
H. Suppliers for the business
I. Business competitors
J. Businesses that have failed
What are fixed costs?
Which of the following is NOT a form of advertising?
A. TV commercials
B. Billboards
C. Product packaging
D. Social media posts
E. Radio spots
F. Sponsoring events
G. Word-of-mouth referrals
H. Flyers
I. Coupons
J. Personal emails to friends
What is the role of a business plan?
Which of the following is an example of a good?
A. A haircut
B. A concert ticket
C. A smartphone
D. A consulting service
E. A yoga class
F. A car repair
G. An education course
H. A hotel stay
I. A pet grooming
J. A financial advisory service
What does SWOT stand for in a SWOT analysis?
Which of the following is a characteristic of an entrepreneur?
A. Risk-averse
B. Reluctant to innovate
C. Willing to take risks
D. Prefers routine jobs
E. Shies away from challenges
F. Dislikes networking
G. Avoids competition
H. Values stability over change
I. Seeks out mentorship
J. Enjoys working alone
What is market research?
Which of the following represents a type of competition?
A. Monopoly
B. Collaboration
C. Joint venture
D. Nonprofit organization
E. Undercutting prices
F. Advertising in the same market
G. Merging with other businesses
H. Creating a brand image
I. Offering discounts
J. Seeking customer feedback
What does "branding" refer to?
Which of the following is a reason why businesses use social media?
A. To avoid customer interaction
B. To increase visibility
C. To reduce marketing costs
D. To hide customer reviews
E. To avoid competition
F. To increase product prices
G. To discourage feedback
H. To limit customer engagement
I. To focus only on local markets
J. To ignore trends
What is a franchise?
Which of the following is a common inventory management technique?
A. Just-in-time inventory
B. Overstocking products
C. Disregarding stock levels
D. Only purchasing goods on sale
E. Reducing product variety
F. Ignoring customer demand
G. Focusing solely on one supplier
H. Keeping products past their expiration date
I. Storing all items in one location
J. Selling all inventory quickly
What is the function of human resources in a business?
Which of the following best describes a corporation?
A. A type of small business
B. A business structure with limited liability
C. A government-run entity
D. A form of partnership
E. A business owned by one person
F. A non-profit organization
G. A business with no regulations
H. A cooperative society
I. A business based in a single location
J. A family-owned venture
What is the significance of customer feedback for a business?
Which of the following is a potential risk for businesses?
A. High employee morale
B. Increased customer satisfaction
C. Economic downturns
D. Innovative product development
E. Effective marketing strategies
F. Strong brand loyalty
G. Positive word-of-mouth
H. High-quality products
I. Good reputation
J. Competitive pricing
Make sure to review your answers before submitting!