Questions
- What is the primary purpose of a company’s mission statement? a) To describe the company’s products
b) To outline the company’s goals and core values
c) To list the company’s financial statements
d) To specify the company’s organizational structure - Which term describes the total value of all goods and services produced within a country in a specific period? a) Gross Domestic Product (GDP)
b) Gross National Income (GNI)
c) Net Profit
d) Operating Margin - What is the main function of a marketing department within a business? a) Managing employee payroll
b) Developing and promoting products or services to customers
c) Overseeing supply chain logistics
d) Handling legal compliance and contracts - Which of the following is an example of a startup business? a) A large, established automobile manufacturer
b) A newly launched mobile app company operating in its first year
c) A government-run utility company
d) A multinational bank with branches worldwide - What does the acronym “ROI” stand for in business finance? a) Rate of Investment
b) Return on Investment
c) Revenue on Income
d) Ratio of Inventory - Which type of business ownership provides limited liability to its owners and is often characterized by a separate legal entity? a) Sole proprietorship
b) Partnership
c) Corporation
d) Franchise - What is the term for the process of analyzing a company’s financial health through its financial statements? a) Market analysis
b) Financial auditing
c) Business valuation
d) Financial analysis - Which strategy involves a company offering a new product to existing customers to increase sales? a) Market Penetration
b) Market Development
c) Product Development
d) Diversification - What is the primary purpose of a business plan? a) To attract investors and guide the company’s growth
b) To hire new employees
c) To design marketing materials
d) To comply with government regulations - Which economic principle explains the relationship between supply, demand, and prices? a) Keynesian Economics
b) Supply and Demand Theory
c) Monopoly Theory
d) Cost-Bush Theory
Answers:
- b) To outline the company’s goals and core values
- a) Gross Domestic Product (GDP)
- b) Developing and promoting products or services to customers
- b) A newly launched mobile app company operating in its first year
- b) Return on Investment
- c) Corporation
- d) Financial analysis
- c) Product Development
- a) To attract investors and guide the company’s growth
- b) Supply and Demand Theory