BUSINESS ADMINISTRATION QUIZ WITH RESEARCHED ANSWERS .8
Individuals are free to decide what to produce, how to produce it, and at what price to sell it. -
correct answer Free Enterprise
What are the two futures of business? - correct answer 1. Know what you want 2. Adapt
Why should you study business? - correct answer 1. For help in choosing a career 2. To be a
successful employee. 3. To improve your management skills 4. To start your own business 5. To
become a better informed consumer and investor.
An organization that produces or distributes a good or service for profit. - correct answer
Business
Difference between earned income and costs(Revenue Expenses). - correct answer Profit
What=profit - correct answer Revenue-expenses
Is what remains after all business expenses have been deducted from sales revenue. - correct
answer Profit
A___________ results when a firm's expenses are greater than its revenues. - correct answer
loss(negative profit).
What comes from profit? - correct answer Reward for producing goods and services people
want.
Compensation for assuming the risks of ownership- Risk of not receiving payment, risk of losing
investment.
Why do businesses exist? - correct answer 1. Businesses work for customers.
2. Customers buy goods and services.
Individuals are free to decide what to produce, how to produce it, and at what price to sell it. -
correct answer Free Enterprise
What are the two futures of business? - correct answer 1. Know what you want 2. Adapt
Why should you study business? - correct answer 1. For help in choosing a career 2. To be a
successful employee. 3. To improve your management skills 4. To start your own business 5. To
become a better informed consumer and investor.
An organization that produces or distributes a good or service for profit. - correct answer
Business
Difference between earned income and costs(Revenue Expenses). - correct answer Profit
What=profit - correct answer Revenue-expenses
Is what remains after all business expenses have been deducted from sales revenue. - correct
answer Profit
A___________ results when a firm's expenses are greater than its revenues. - correct answer
loss(negative profit).
What comes from profit? - correct answer Reward for producing goods and services people
want.
Compensation for assuming the risks of ownership- Risk of not receiving payment, risk of losing
investment.
Why do businesses exist? - correct answer 1. Businesses work for customers.
2. Customers buy goods and services.
