Business Studies Questions
Question 51:
What is a "joint venture"?
- A A partnership between two or more companies to undertake a specific project
- B A merger of two companies
- C A takeover of one company by another
- D A subsidiary of a larger company
- E A new product development initiative
Question 52:
two or more companies to undertake a specific project.
What is the primary purpose of customer service?
- A To manage inventory levels
- B To increase production capacity
- C To assist and satisfy customers
- D To design marketing campaigns
- E To handle financial records
Question 53:
Which of the following is a characteristic of an effective team?
- A Clear goals
- B Open communication
- C Mutual respect
- D Defined roles
- E All of the above
Question 54:
What is a "competitive advantage"?
- A The ability to produce at a lower cost than competitors
- B The total revenue generated by a company
- C The market share of a company
- D The profitability of a company
- E The size of a company's workforce
Question 55:
What does "outsourcing" mean in a business context?
- A Hiring temporary employees
- B Delegating tasks to an external organization
- C Conducting business in foreign markets
- D Developing new products in-house
- E Managing internal departments