Understanding Business (Higher)

The sectors of industry are:

• Private, public and third

• Primary, secondary, tertiary and quaternary

The sectors of the economy are:

• Private, public and third

• Primary, secondary, tertiary and quaternary

Which sector of industry consists of businesses involved in exploiting natural resources?

• Tertiary sector

• Secondary sector

• Primary sector

• Quaternary sector

Which sector of industry consists of businesses involved in manufacturing and construction?

• Tertiary sector

• Secondary sector

• Primary sector

• Quaternary sector

Which sector of industry consists of businesses that provide knowledge-based services?

• Tertiary sector

• Secondary sector

• Primary sector

• Quaternary sector

Which sector of the economy consists of businesses that aim primarily to maximise profit?

• Third Sector

• Public Sector

• Private Sector

The owners of a limited company are called:

• Stakeholders

• Shareholders

In a private limited company, shares are not available to the general public.

• True

• False

Which of the following is not generally an objective of public sector organisations?

• Provide a quality service

• Maximise profits

Which of the following is not an organic method of growth?

• Opening new branches

• Hiring more staff

• Takeover

• Increasing production capacity