Y8 Business Revision

The stock market is about the relationship of buyers and sellers of goods and services

• True

• False

Select the three key government interventions

• Regulation of economic activity (Intervene through taxes & gov spending)

• Reallocation of resources (Intervene through the supply of goods)

• Regulation of income (Intervene through taxes & gov spending)

• Redistribution of income (Intervene through welfare)

Producers use resources to make and trade goods and services

• True

• False

Select three advantages of a Partnership

• Shared risk

• Shared workload

• Unlimited liability

• Low start up cost

The retail market exists for the negotiation of prices and sale of shares

• True

• False

Employees looking for work and employers looking for skills of employees - What type of market is this?

• Retail

• Labour

• Stock

• Finance

Select three disadvantages of a Sole trader

• Unlimited liability

• Long Hours

• Low Start Up Costs

• Responsible for all debts

Select three disadvtanges of a partnership

• Low start up costs

• Unlimited liability

• Potential for conflict

• Responsible for other partners debt

What are three advantages of a company

• Costs a lot to set up

• Limited liability

• Access to more skills

• Capital raised by shareholders

A consumer is a person or group that uses goods and services to satisfy their wants and needs.

• True

• False