Unit 1: Introduction to Business Management
Topic 1.1: What is a Business? Questions
Practice 20 exam-style questions for IB Business Management Topic 1.1. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
1identify2 marks
2026• vault
A small manufacturer has many customer complaints about faulty products. Identify which business function is most directly responsible for fixing this issue and state one action it could take.
Markscheme and model answer locked
Unlock Question2identify1 mark
2026• vault
A business grows wheat and sells it to a flour mill. Identify the sector of this business.
Markscheme and model answer locked
Unlock Question3state2 marks
2026• vault
State one difference between a good and a service.
Markscheme and model answer locked
Unlock Question4state2 marks
2026• vault
State the four main business functions in most organizations.
Markscheme and model answer locked
Unlock Question5state1 mark
2026• vault
State one example of a secondary sector business.
Markscheme and model answer locked
Unlock Question6define2 marks
2026• vault
Define the term business function.
Markscheme and model answer locked
Unlock Question7state2 marks
2026• vault
State one difference between a good and a service.
Markscheme and model answer locked
Unlock Question9explain4 marks
2026• vault
A bakery says its purpose is to satisfy customer needs and wants. Explain the difference between a need and a want, using one example of each linked to the bakery.
Markscheme and model answer locked
Unlock Question10define2 marks
2026• vault
Define the term business function.
Markscheme and model answer locked
Unlock Question11identify2 marks
2026• vault
A student sells handmade phone cases and also offers a one hour phone setup lesson. Identify which activity provides a good and which provides a service.
Markscheme and model answer locked
Unlock Question12define2 marks
2026• vault
Define the term primary sector of business activity.
Markscheme and model answer locked
Unlock Question13define2 marks
2026• vault
Define the term primary sector of business activity.
Markscheme and model answer locked
Unlock Question14state1 mark
2026• vault
State one example of a secondary sector business.
Markscheme and model answer locked
Unlock Question15identify1 mark
2026• vault
A business grows wheat and sells it to a flour mill. Identify the sector of this business.
Markscheme and model answer locked
Unlock Question16state2 marks
2026• vault
State the four main business functions in most organizations.
Markscheme and model answer locked
Unlock Question17identify2 marks
2026• vault
A small manufacturer has many customer complaints about faulty products. Identify which business function is most directly responsible for fixing this issue and state one action it could take.
Markscheme and model answer locked
Unlock Question18define2 marks
2026• vault
Define the term cash flow.
Markscheme and model answer locked
Unlock Question19state3 marks
2026• vault
State three sections that are commonly included in a business plan.
Markscheme and model answer locked
Unlock Question20identify2 marks
2026• vault
A new bakery must pay rent, wages and ingredient bills weekly, but customers pay using invoices at the end of each month. Identify the main financial challenge.
Markscheme and model answer locked
Unlock QuestionReady to practice Topic 1.1?
Get instant AI feedback on your answers, view detailed markschemes, and track your progress across all IB Business Management topics.
Start Practising Now