Unit 1 LO.A

A business decides to increase its selling prices.Which of the following stakeholder is most likely to be affected?

• Suppliers

• Local Community

• Employees

• Customers

A business which grows potatoes and makes them into crisps is said to be operating in the:

• Primary and secondary sector

• primary and tertiary sector

• secondary and tertiary sector

• primary, secondary and tertiary sector

Which business is likely to increase have increasing shareholder value as its objective?

• sole trader

• partnership

• public limited company

• not-for-profit organisation

When a business increases its sales as a percentage of total market sales it is said to be:

• increasing its market share

• improving its customer satisfaction

• increasing its shareholder value

• maximising its profits

The most likely advantage of being a sole trader business is being able to:

• share decision making

• raise large amounts of finance

• keep all profits made

• receive dividend payments

Which of the following stakeholder may receive more order is a business grows in size?

• customers

• local community

• suppliers

• owner

Which of the following organisation is most likely to have profit maximisation as an aim?

• Starbucks

• British Red Cross

• World Wildlife Fund

• Water Aid

Which of the following business operates in the Secondary sector?

• Dyson

• Cineworld

• John Lewis

• EE

Which of the following businesses provides a service to customer?

• Florist

• Bakery

• Dentist

• Butcher

The primary sector is made up of organisations that:

• convert raw materials into goods

• manufacture goods

• extract raw materials from the ground

• provide services