Business Studies Prelim Revision

This is NOT part of the primary sector of the economy

• Mining
• Forestry
• Retail
• Fishing

Which of these examples is a service?

• Mr. Farr sells guitars.

• Mr. Swenson gives art supplies to consumers.

• Coach provides lessons for different sports.

• Ms. Miller writes books.

Fishing, Mining, Farming, and Forestry are examples of what economic activity?

• Primary
• Secondary
• Teritiary
• Quaternary 

Which sector does an amusement park belong in?

• Primary

• Secondary

• Tertiary

• Quaternary

• Quinary

What is meant by the term operations?

• Changing raw materials into goods and service
• What happens on a movie set
• A small shop selling groceries
• Producing products by recycling

What product is the results of the supply management chain in the diagram?

• Cars

• Fuel

• Lorries

• Motorbikes

What are stakeholders?

• Anybody who knows the name of the business
• Anybody who takes an interest in a business
• Anybody who works for the business
• Anybody who buys from the business

Which one of the following statements about stakeholder groups is accurate?

• Stakeholders are people who are not interested in business
• Stakeholder groups have direct interest in firms  decisions
• Shareholders of a ltd company are not a stakeholder group

What stakeholders exist within Lordswood Boys’ School ?

• Teachers

• Parents

• Students

• All of them.

Which is a feature of a partnership?

• Shares can be sold to family and friends

• Income tax must be paid on profit.

• The owners have limited liability.

• Financial information is sent to Companies House.