Higher BM - Understanding Business

Which of the following is NOT a sector of industry?

• Primary

• Tertiary

• Public

• Quaternary

What are the 3 sectors of the economy?

• primary, secondary, tertiary

• private, public, tertiary

• public, private, primary

• private, public, third

Who owns private limited companies?

• The Government

• Board of Trustees

• Shareholders

• Stakeholders

Who controls a private limited company?

• Board of Directors

• Board of Trustees

• Government

• Local Community

Tick the correct DISADVANTAGES of a Multinational

• language barriers can slow down communication

• grants can be issued

• wages and raw material costs can be lower

• time differences can hinder communication

who owns businesses in the public sector?

• Shareholders

• The Government

• Local Community

• Stakeholders

who controls businesses in the third sector?

• Board of Directors

• Board of Trustees

• Stakeholders

• The Owner

Where do businesses in the third sector get their finance?

• Loans from Family/Friends

• Shareholders

• Donations

• Bank Overdraft

What is a social enterprise?

• organisations which raise money for the government

• organisations that do not aim to make a profit

• organisations that aim to make a profit for the managers

• organisations that aim to make a profit to benefit a specific group/ cause

tick the correct MAIN objectives of a business in the private sector

• make profit

• provide a quality service

• donate to charity

• raise money for a cause