INTRODUCTION TO BUSINESS

Quiz #01
Q. Fill in the Blanks
1. A business cannot survive without ………………….
2. ……………………. is the most obvious natural resource that is commonly used by
businesses to produce goods and services.
3. Human resources are the people who contribute to the production process by using their
…………………………….
4. The …………………. has a stake or interest in major companies, because the actions of
these companies can affect society as a whole.
5. Company generates ………………. by providing services or selling goods to customers.
6. A company whose costs are greater than revenues incur a ………..
7. ………………. is the reward for the risks business take in providing products.
8. A ……………………… has more to do with the future and really describes what an
organization plans or hopes to be in the future.
9. A mission is the purpose of an organization and the ………………………….
10. A company have a goal of maximizing the wealth of its ……………….
11. Shareholders who are not decision-makers, or not a part of the permanent infrastructure
of the organization are …………………….
12. Government has an interest in company………………
13. ……………...are the people who combine the inputs of natural resources, labor, and
capital to produce goods or services with the intention of making a profit or
accomplishing a not-for-profit goal.
14. ……………………will usually agree to allow their customers some credit only if
customer will pay what is owed and will not become a bad debt.
15. By using the ………………. efficiently, a company can produce more goods and services
with the same resources.