Business and Economics

Both Business and Economics are crucial subjects that teach people about the workings of the world. Business involves the establishment and management of organizations with the primary goal of making a profit. These organizations sell goods or offer services to consumers, leading to income generation. On the other hand, Economics is the study of how financial resources and wealth are distributed and utilized across nations, corporations, and individuals. This field of study examines decision-making processes when it comes to money management. Many individuals pursue degrees in business and economics at higher education institutions, as acquiring knowledge in these subjects can lead to successful and well-paying careers.

Questions

Multiple Choice Questions

1. What is the primary goal of business as described in the passage?

A) Income generation through sales and services
B) Providing employment to people
C) Distributing financial resources and wealth
D) Examining decision-making processes

2. How does economics differ from business according to the passage?

A) Economics focuses on establishing organizations
B) Economics studies the distribution and utilization of financial resources
C) Economics aims to make a profit
D) Economics is concerned with selling goods and services

3. Why do individuals pursue degrees in business and economics as mentioned in the passage?

A) To teach these subjects
B) To become philanthropists
C) Because these subjects can lead to successful and well-paying careers
D) To participate in political activities

Match the Definition with the Word

1. The process of making something available to the public by offering it for sale.

A) Distribution
B) Establishment
C) Sales
D) Management

2. The act of using something or the state of being used.

A) Utilization
B) Profit
C) Generation
D) Management

3. A division of a particular subject or field of activity, especially one that is very specific.

A) Career
B) Degree
C) Field
D) Establishment

Answers

Multiple Choice Questions:

  1. A) Income generation through sales and services
  2. B) Economics studies the distribution and utilization of financial resources
  3. C) Because these subjects can lead to successful and well-paying careers

Match the Definition with the Word:

  1. C) Sales
  2. A) Utilization
  3. C) Field

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