RECAP BUSINESS STUDIES CHAPTER 1

Businesses are classified under 3 main stages of production

• TRUE

• FALSE

These are the main stages in production EXCEPT?

• the primary sector

• the international sector

• the secondary sector

• the tertiary sector

In secondary sector business, the business activity involves providing services to the final consumers or other businesses.

• TRUE

• FALSE

Although there are different sectors and stages in production, the business activity from these sectors are often dependent on each other and this is called as ____

• business cycle

• chain of production

• mixed company

Which of the following best describe 'de-industrialisation'?

• The growing importance of secondary sector business activity

• The growing importance of tertiary sector business activity

• The growing importance of primary sector business activity

In terms of the sale of shares by shareholders, it is often difficult for a private limited company to sell theirs. This is because shares must be sold privately and with the agreement of the other shareholders.

• TRUE

• FALSE

These are the factors of production.

• 1. Land

  2. Labour

  3. Capital

  4. Enterprise

• 1. Land

  2. Companies

  3. Capital

  4. Enterprise

• 1. Buildings

  2. Labour

  3. Capital

  4. Enterprise

• 1. Land

  2. Labour

  3. Capital

  4. Businesses

Mixed economies are economies that have primary and tertiary sector.

• TRUE

• FALSE

These are some causes of new businesses failure, EXCEPT

• Poor planning

• Lack of finance

• Low employee turnover

• Competition

Start-up capital is the ____

• finance forecasted when first setting up the business

• finance need when the business has been running for long.

• finance needed when first setting up a business

• finance granted from the goverment when first setting up a business