RSM 100 Chapter 1 Checks Exam | Questions with
100% Correct Answers | Verified | Latest Update
2026
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Terms in this set (16)
What activity lies at the heart of At the heart of every business endeavour is an
every business endeavour? exchange between a buyer and a seller.
What are the primary objectives of a What are the primary objectives of a not-for-profit
not-for-profit organization? organization?
Identify the four basic inputs to an The four basic inputs are natural resources, capital,
economic system. human resources, and entrepreneurship.
List four types of capital. Four types of capital are technology, tools,
information, and physical facilities.
What is an alternative term for the Capitalism
private enterprise system?
What is the most basic freedom Right to own private property
under the private enterprise system?
What is an entrepreneur? An entrepreneur is a risk taker who is willing to
start, own, and operate a business.
100% Correct Answers | Verified | Latest Update
2026
Save
Terms in this set (16)
What activity lies at the heart of At the heart of every business endeavour is an
every business endeavour? exchange between a buyer and a seller.
What are the primary objectives of a What are the primary objectives of a not-for-profit
not-for-profit organization? organization?
Identify the four basic inputs to an The four basic inputs are natural resources, capital,
economic system. human resources, and entrepreneurship.
List four types of capital. Four types of capital are technology, tools,
information, and physical facilities.
What is an alternative term for the Capitalism
private enterprise system?
What is the most basic freedom Right to own private property
under the private enterprise system?
What is an entrepreneur? An entrepreneur is a risk taker who is willing to
start, own, and operate a business.
