Question 1
Which of the following best describes an economic activity?
Correct Answer:
Producing goods and services in exchange for payment
Question 2
A business owned and controlled by one person who has unlimited liability is a:
Correct Answer:
Sole trader
Question 3
The main advantage of limited liability to the owners of a company is that:
Correct Answer:
Their personal assets are protected if the business fails
Question 4
In which type of economic system are resources owned and decisions made entirely by the government?
Correct Answer:
Planned (command) economy
Question 5
Which of the following is a feature of a cooperative society?
Correct Answer:
Members share profits as a dividend based on their dealings
Question 1
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About this Exam

Prepare with the CSEC Principles of Business Practice Questions - CSEC Principles of Business (POB) Exam practice quiz. This question bank includes 100 questions covering business, production, limited, company, and mainly. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CSEC Principles of Business Practice Questions - CSEC Principles of Business (POB) Exam

This practice set contains 100 questions from the matching question bank and focuses on business, production, limited, company, and mainly. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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