Higher Business - Types of Organisations Quiz

Which of the following is not a type of business ownership?

• Tertiary Sector

• Sole Trader

• Partnership

• Third Sector

Which sector is primarily concerned with providing services?

• Quaternary Sector

• Tertiary Sector

• Private Sector

• Public Sector

What term is used to describe a business owned and operated by one individual?

• Partnership

• Sole Trader

• Private Sector

• Third Sector

Which sector includes charities and volunteer organizations?

• Tertiary Sector

• Private Sector

• Public Sector

• Third Sector

What are the Sectors of the Economy?

• Private Sector, Public Sector, Third Sector

• Agricultural Sector, Manufacturing Sector, Service Sector

• Domestic Sector, International Sector, Global Sector

• Primary Sector, Secondary Sector, Tertiary Sector

Which of the following is NOT listed under the Private Sector?

• Sole Traders & Partnerships

• Private Limited Companies (Ltd)

• Public Limited Companies (Plc)

• Multinationals

What types of organisations are included in the Public Sector?

• Charities and Social Enterprises

• National Government and Local Government

• Multinationals and Franchises

• Private Limited Companies and Public Limited Companies

What must you be confident with when understanding the main features of all organisations?

• Marketing strategies and customer service

• Ownership, Control, Finance, and Aims

• Product development and innovation

• Human resource management and company culture

What does limited liability mean for the owners of a business?

• The owners' personal possessions are at risk if the business fails.

• The owners' personal possessions are not at risk should the business be in debt.

• The business has no financial responsibility.

• The owners are responsible for all debts and may go to prison if unable to pay.

What is the opposite of limited liability?

• Shared liability

• Unlimited liability

• Divided liability

• Joint liability