MGT211 Quizzes 1-3 by LGWT

MGT211 Quiz Fall 2025 · Quiz 1, 2, & 3 · Mid Term By LGWT · Paid Services Avaiable: · Assignments · Quiz · GDB · Cisco Assignments(CS201, CS206, CS610) · Mid & Final Exam Preparation · CLICK ME FOR PAID SERVICES · You Can Discuss Your Problems in these groups:

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Q1. The core invention of the First Industrial Revolution was:

1. Computer
2. Artificial Intelligence
3. Steam power
4. Electricity

Correct answer: Steam power

Q2. An SME facing outdated technology should:

1. Shift to agriculture
2. Close operations
3. Invest in upgrading
4. Rely on manual processes

Correct answer: Invest in upgrading

Q3. Why is transparency important in business?

1. To build consumer trust and legal compliance
2. To reduce employee autonomy
3. To hide profits
4. To avoid innovation

Correct answer: To build consumer trust and legal compliance

Q4. GDP stands for:

1. General Data Policy
2. Global Domestic Production
3. Gross Development Product
4. Gross Domestic Product

Correct answer: Gross Domestic Product

Q5. How do ethical businesses benefit in the long term?

1. By cutting employee wages
2. By avoiding taxes
3. By earning trust and reducing legal risk
4. Through public manipulation

Correct answer: By earning trust and reducing legal risk

Q6. What is the major difference between a startup and a small business?

1. Type of owner
2. Funding source
3. Location
4. Scale and growth ambition

Correct answer: Scale and growth ambition

Q7. A serial entrepreneur starting a third venture applies past lessons. This is an example of:

1. Innovation
2. Experience-based application
3. Diversification
4. Risk aversion

Correct answer: Experience-based application

Q8. Which sector benefits most directly from SME subcontracting in Pakistan?

1. IT
2. Construction
3. Large-scale industry
4. Agriculture

Correct answer: Large-scale industry

Q1. GDP stands for:

1. Gross Development Product
2. Global Domestic Production
3. Gross Domestic Product
4. General Data Policy

Correct answer: Gross Domestic Product

Q2. The central objective of business is:

1. Profit Earning
2. Resource management
3. Knowledge generation
4. Employment creation

Correct answer: Profit Earning

Q3. What is a core principle of business ethics that means treating people justly?

1. Loyalty
2. Fairness
3. Transparency
4. Respect

Correct answer: Fairness

Q4. A company impacted by cost-push inflation might respond by:

1. Cutting wages
2. Increasing employee benefits
3. Reducing prices
4. Raising product prices

Correct answer: Raising product prices

Q5. What does the Hadith “Pay the worker his wages before his sweat dries” teach?

1. Barter-based payments
2. Timely and fair compensation
3. Increase working hours
4. Reduce wages

Correct answer: Timely and fair compensation

Q6. How do SMEs contribute to regional development?

1. By focusing on cities only
2. By creating employment
3. Through imports
4. By reducing taxes

Correct answer: By creating employment

Q7. If GDP drops for two consecutive quarters, a business should:

1. Prepare for a recession
2. Stop advertising
3. Hire more staff
4. Raise prices

Correct answer: Prepare for a recession

Q8. Knowledge workers are most closely associated with:

1. Product delivery
2. Bartering
3. Data driven innovation
4. Manual labor

Correct answer: Data driven innovation