Business Form 1 - Term 1 Test 2

Concerned with finished goods

• Service Business

• Private Sector Business

• Secondary Sector of the Economy

The money made after cost of goods has been subtracted

• Profit

• Fixed Capital

• A need

Buildings and Machinery

• Profit

• Fixed Capital

• Land

An Ipad

• A goods business

• A want

• A need

A doctor’s surgery

• Land

• Labour

• Service Business

One of the 4 Factors of Production

• Private Sector Business

• Labour

• Service Business

• Fixed Capital

Required as a fundamental input for the business for example, having an Operations Manager

• Service Business

• Profit

• A need

• Labour

Companies that are not owned by the Government

• Service Business

• Private Sector Business

• A goods business

Clothing stores are an example of this

• Labour

• Land

• A goods business

• Service Business

Water is an example of

• A want

• A need

• Profit

• Labour