S3 Business

External influences on a business refer to

• Factors that are good for the business

• Factors that are bad for a business

• Factors that are outside the control of the business

• Illegal actions by a business

Who is the Prime Minister of the UK?

• Boris Johnston

• Nicola Sturgeon

• Rishi Sunak

• Liz Truss

A sole trader has responsibility for

• preparing the accounts of the business
• all aspects of their business
• selling the products
• completing spreadsheets

The main objective of the public sector is

• to make a profit.

• to provide a service.

• to provide advice.

• to pay dividends.

Glasgow City Council is an example of.....

• a local authority

• a national government

• a panel

A percentage of money taken from individuals or businesses is referred to as

• property tax

• excise tax

• income tax

• sales tax

How many people own a sole trader business?

• 3
• 2
• 1
• 20

What is unlimited liability?

• If the business fails you will not lose personal possessions
• If the business fails you will lose personal possessions

Which of the following industries is an example of a primary industry?

• Coal Mining

• House Building

• Hotels

• School

Identify the correct factor of production.

Individuals with great ideas and willing to take risks.

• Natural resources

• Labour

• Capital

• Entrepreneurship