Multiple choice. Choose the correct letter. 1. Production or distribution of goods and/or services for profit a. Manufacturing b. Business c. Partnership d. Commerce 2. The owners of a corporation have limited liability and the business has a separate legal personality from its owner a. Sole proprietorship b. Commerce c. Corporation d. Manufacturing 3. The process of buying and selling of products a. Construction b. Commerce c. Service d. Partnership 4. A conversion of raw materials into finished products a. Manufacturing b. Genetic c. Stability d. Commerce 5. The ability to weather the ups and downs of business a. Increase in value b. Stability c. Social responsibility d. Growth 6. The use of discount coupons and/or vouchers a. New business idea b. Personalized option c. Capitalize on trends d. Affordable splurge 7. An evaluation and analysis of the potential of a proposed project which is based on extensive investigation and research a. New business idea b. Feasibility study c. Personalized option d. Business plan 8. Include cost of organizing and acquisition of fixed assets. a. Social responsibility b. Financing institution c. Initial capital requirements d. Sources of initial capital 9. it happens to be the time when business owners start establishing their brand identity and generate brand loyalty a. depression stage b. recession stage c. boom stage d. growth stage 10. In phase of company enjoys high market share and strong brand image a. Growth stage b. Boom stage c. Recession stage d. Depression stage 11. It become stage where the company struggles to keep its stand in the market a. Depression stage b. Recession stage c. Growth stage d. Boom stage 12. In this stage, consumers and confidence level remain low a. Recession stage b. Growth stage c. Boom stage d. Depression stage 13. emerging industry that is gaining favor with investors and is expected to be an engine of future economic growth a. travel and tourism industry b. business cycle c. sunrise industry d. sunset industry 14. Older industry continues to be important to an economy but is losing favor with investors a. Digital industry and education b. Sunset industry c. Business cycle d. Sunrise industry 15. The owner has unlimited liability for all obligations incurred by costs or judgments against the business group of answer choices sole proprietorship corporation partnership cooperative a. Sole proprietorship b. Corporation c. Partnership d. Cooperative 16. Actual usage of natural resources a. Construction b. Extractive c. Commerce d. Genetic 17. The persons who runs a business he himself has created a. Entrepreneurship b. Entrepreneur c. Service d. Commerce 18. A road map/ blue print of your business a. Feasibility study b. Business cycle c. Entrepreneurship d. Business plan 19. The company has to work on its strength and look out for the potential threat of competitors group of answer choices depression stage recession stage boom stage growth stage a. Depression stage b. Recession stage c. Boom stage d. Growth stage 20. There is less selling, buying, employment and production group of answer choices recession stage a. Recession stage b. Growth stage c. Depression stage d. Boom stage