MGT211 Solved Quiz 1 by Sahirullah

MGT211 - INTRODUCTION TO BUSINESS

Solved Quiz No. 01

Solved by: Sahirullah | 12 May 2026

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

Artificial Intelligence

Steam power

Electricity Insight: Steam power mechanized production, transitioning the world from hand-made to machine-made goods.

2. A tech startup focusing on AI-driven analytics is part of which sector? Quaternary

Tertiary Primary Insight: The Quaternary sector involves information-based services like AI, R&D, and data analysis.

Q3. How does profit support business sustainability?

By funding reinvestment

By eliminating risks By increasing taxes Insight: Profit allows a business to reinvest in its growth, equipment, and employees.

Q4. What is the role of "aids to trade" in commerce?

Supporting the movement and sale of goods

Providing money Replacing labor Insight: Aids to trade include banking, insurance, transport, and warehousing.

Q5. Why did ancient societies invent writing systems like cuneiform?

To preserve religious texts

To record business transactions

For poetry Insight: Record-keeping for inventory and trade was a primary driver for the evolution of writing.

Q6. Which sector is responsible for extracting natural resources?

Secondary Tertiary

Primary

Insight: Agriculture, mining, and fishing fall under the Primary sector.