N5 Business Revision

Which of these are not a sector of Economy?

• Private

• Public

• Third

• Secondary

This sector of Economy includes charities and voluntary organisations

(a)  

Which is not a benefit of customer satisfaction?

• Happy, loyal customers

• Increased Profit

• Customers choosing competitors

• Recommendations

Identify 2 ways an organisation can measure customer satisfaction

Identify two objectives of a Third sector organisation

Which type of question is this an answer to:

An advantage of a Sole Trader is that all profits can be kept for themselves. A disadvantage of a sole trader is that they have unlimited liability so could lose everything if the business fails.

(a)  

What is the abbreviation for External Factors?

(a)  

Which External Factor would the Equality Act 2010 relate to?

• Political

• Economical

• Environmental

• Competitive

Which of the following is an Advantage of being a Sole Trader

• Complete control of the business

• All profits are kept by the owner

• Company accounts are kept private

• All of the above

As a stakeholder, what interest would the suppliers have in a business?

• Following Legislations
• Business Relationships
• Payment Methods
• Staff Pay