Business types & size (Y13 micro)
Authored by Michael Smith
Other
11th Grade - University
Used 16+ times
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27 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an advantage of being a sole trader?
Sole trader retains all profits
Easy to set up
Unlimited liability
Sole trader has final say on all decisions
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the private sector?
Businesses owned by individuals or groups of individuals
Businesses owned/operated by the government
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Where does most business take place in the economy?
Private sector
Public sector
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are advantages of the private sector?
The profit motive
Greater innovation
Environmental degradation
Higher productivity
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are disadvantages of a business partnership?
Disagreements over decision making
Profits have to be shared
Unlimited liability
Easier to raise finance
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What are the main principles of a co-operative business?
Shared ownership
Shared profits
Shared voice
Shared love
7.
MULTIPLE SELECT QUESTION
45 sec • 5 pts
Which of the following are advantages of a co-operative business?
Each member has a vote on decisions
Losses are higher
Limited liability
Decision making is quicker than in a partnership
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