Business and Economics
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Business and Economics, they’re like two sides of the same coin, providing deep insights into how the global market works. Business, it’s all about setting up and managing companies with the aim of making a profit. Economics, on the other hand, it’s like a magnifying glass on how resources, which aren’t infinite by the way, are divided and used among nations, corporations, and individuals. These subjects dive deep into the impact of financial decisions, aiming for maximum efficiency and overall market performance. So, why do people study business and economics at university? Because it equips them with the skills they need to excel in competitive industries, climb the corporate ladder, and ultimately drive economic growth in their societies.
Questions
Multiple Choice Questions
- According to the passage, what is the main aim of businesses?
- A. To create social value
- B. To maximize efficiency
- C. To make a profit
- D. To provide education
- How does the passage describe economics?
- A. A study of how to set up and manage companies
- B. A study of the division and usage of finite resources
- C. A study of how to climb the corporate ladder
- D. A study of how to become a successful entrepreneur
- Why do people study business and economics at university?
- A. To become politicians
- B. To excel in competitive industries and contribute to economic growth
- C. To learn about history and geography
- D. To become better communicators
Match the Definition with the Word
- The effectiveness of productive effort, especially in industry, as measured in terms of output per unit of input.
- A. Resources
- B. Efficiency
- C. Profit
- D. Growth
- An increase in the size, value, or importance of something.
- A. Resources
- B. Efficiency
- C. Profit
- D. Growth
- Materials, money, and other assets that can be drawn upon by a person or organization in order to function effectively.
- A. Resources
- B. Efficiency
- C. Profit
- D. Growth
Answers
Show the Answers
Multiple Choice Questions
- C. To make a profit
- B. A study of the division and usage of finite resources
- B. To excel in competitive industries and contribute to economic growth
Match the Definition with the Word
- B. Efficiency
- D. Growth
- A. Resources
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