Introduction to Business & the Business Environment
Introduction to Business & the Business Environment is one of 9 topics in the Grade 10 Business Studies CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. What is the main aim of a business, as distinct from a hobby?
To produce or provide goods and services for a profit
To avoid ever dealing with customers
To only ever operate once, for a single transaction
To give away goods and services for free
Answer: To produce or provide goods and services for a profit — A business is an organisation that produces or provides goods and services to satisfy needs and wants, with the deliberate aim of making a profit, unlike a casual hobby or once-off transaction.
Easy
2. Which of the following is an example of a "need" rather than a "want"?
Clean drinking water
A brand-new smartphone
An overseas holiday
A designer handbag
Answer: Clean drinking water — A need is something essential for survival, such as food, water, clothing and shelter. A want is something desired but not essential for survival.
Medium
3. Name the factor of production that refers to the human physical and mental effort contributed to producing goods and services.
Answer: Labour — Labour is the human effort, both physical and mental, that people contribute to the production of goods and services; its reward is a wage or salary.
