1. Refers to a group of people with economically important needs and demands
which open entrepreneurial or business opportunities to everyone.
a. Fashion
c. Market
b. Economics
d. Fans
2. The legal forms of business;
a. Sole proprietorship
c. Corporation
b. Partnership
d. All mentioned
3. In the 4m’s of production, which M refers to the people in the business that do
the labor force?
a. Machines
c. Manpower
b. Materials
d. Money
4. Process of recording the money received and spent by the operations of business
a. administering
c. posting
b. booking
d. bookkeeping
5. Which of the following are factors in selecting the best business location?
a. nearness to consumers
b. availability and quality of raw materials and supplies
c. accessibility to consumers and transportation
d. all of the above
6. Where will a businessman ask for a permit for the legality of his/her business?
a. Principal
c. Mayor
b. Housekeeper
d. Pharmacist
7. Your business will be registered under what agency of the government?
a. Department of Education (DEPED)
b. Bureau of Internal Revenue (BIR)
c. Social Security System (SSS)
d. Securities and Exchange Commission (SEC)
8. Natalie kept all her receipts every time she purchased certain products from her
business’ supplier. She noticed there were missing items that hasn’t been on the
delivered products. She immediately called her supplier and told her the problem.
What helped Natalie traced the problem of her checking?
a. administering
c. posting
b. booking
d. bookkeeping
9. One of the 4m’s in production that involves devices that are used in converting
raw materials into marketable products or outputs.
a. money
c. manpower
b. materials
d. machines
10. Creating products and services must be according to _____________.
a. demands
c. wants
b. needs
d. all mentioned
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Answer:
1.C
2.B
3.A
4.D
5.D
6.A
7.D
8.A
9.C
10.D
Explanation:
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