Grade 9 - GCSE Chapter 3 - 4

Which of these is NOT a characteristic of an entrepreneur?

• Independent

• Takes risks

• Follows instructions

• Self confident

Which of these should we find in a new business plan?

• Profits

• Target market

• Taxes

• Market share

Which is the best reason a government might give a start up tax free status for a year?

• reduce unemployment

• increase competition

• to benefit society

• increase output

Which of these cannot be used to measure the size of a business?

• number of workers

• value of sales

• value of capital employed

• value of profits

Which type of external growth means the business is trying to integrate retail sales with production?

• Internal growth

• horizontal integration

• vertical integration

• conglomerate integration

Which is not a reason businesses can often remain small?

• Market size

• Owner's own objectives

• Overexpansion

• Type of industry

A sole trader is different than a partnership, because it limits the sole trader's liabilities.

• True

• False

Private Limited companies are the same as...in the USA.

• Limited Liability Corporations

• Public Limited Companies

• Limited Partnerships

• S Corporations

The most important element of a Public Company is...

• Limited Liability

• Size and potential for growth

• Legal controls

• Access to finance

Joint Ventures are most often used when...

• Companies try out risky ideas

• Companies enter a new foreign market

• Franchising

• Forming a limited partnership