Meaning of business and management. - SS2 Commerce Past Questions and Answers - page 1
1
What is the primary purpose of a business?
A
Generating profit
B
Providing social services
C
Creating employment opportunities
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2
Which of the following is NOT a characteristic of a business?
A
Non-profit orientation
B
Production of goods or services
C
Production of goods or services
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3
What is the main responsibility of managers in an organization?
A
Maximizing personal wealth
B
Setting organizational goals
C
Setting organizational goals
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4
Which function of management involves allocating resources and coordinating activities?
A
Organizing
B
Planning
C
Controlling
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5
What is the ultimate outcome desired by businesses?
A
Economic growth
B
Profitability
C
Employee happiness
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6
Define business in simple terms.
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7
What are the key functions of management?
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