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Business activity IGCSE Business Online Test

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Business activity IGCSE Business Online Test

1 / 15

Specialisation – is where a business or an individual is Not really good at a service, production of product or skill. The best of best in the field.

2 / 15

Scarcity is when there is not enough goods and services to meet the needs of everyone.

3 / 15

Adding value is enhancement or adding extra features to a product then offering it to customers.

4 / 15

All the shops you see, whether local or big co-operations will often contribute to economy, it will help it growth, create jobs for the locals, and help in development of society.

5 / 15

Services are things we can not touch and are not there physically (intangible); however they still serve us and has a purpose

6 / 15

All businesses are there to make profits

7 / 15

Purpose of the businesses you see out there is to meet our demand! wants and needs

8 / 15

Wants can be unlimited

9 / 15

Needs are things that we need to survive, the very basic things in life without which we can live.

10 / 15

Land, Capital, Labour and Enterprise are factors of production

11 / 15

Goods are things we can physically Not touch and see

12 / 15

loss of other alternatives when one alternative is chosen is called?

13 / 15

Wants: are things that we need to survive

14 / 15

Car insurance, Social media and this website is examples of

15 / 15

Your friend is asking you to go cinema with them to watch the latest movie but you have an example coming up this week.

You choose to decline his offer and stay at home and study for the exam so you can get good grades.

The opportunity cost to you is that you missed out on the latest movie

This the above an example of opportunity cost?

Your score is

The average score is 85%

0%

Exit

I have put this test together to help you get good understanding of the topic so please take the test as many times as you can to ensure you have understood this chapter.

If you get any of the questions wrong do not worry, keep taking the test and go through the lesson again and again until you are confident.

Also make sure you take as many past exam papers as possible to help you get used to the exam environment and exam questions.

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3 responses to “Business activity IGCSE Business Online Test”

  1. Seth Avatar
    Seth

    On this test the 4th question my options for answers are both true and when i pick one of the trues its wrong

    Reply
    1. admin Avatar
      admin

      Thank you for pointing this out. I have fixed this.

      Reply
  2. Ovi Avatar
    Ovi

    Hi, the 4th question still has both true and when I pick one of them, it still comes as wrong

    Reply

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