Year 11 Quiz

What is the primary objective of a not-for-profit organisation?

• Maximize shareholder returns

• Generate profit

• Provide a service or support a cause

• Expand globally

Which of the following is an example of a sole trader?

• A law firm with multiple partners

• A local bakery run by one owner

• A public limited company

• A government-owned school

Which is a disadvantage of becoming a public limited company (PLC)?

• Increased access to finance

• Limited liability

• Loss of control by original owners

• Easier transfer of shares

What does the term "entrepreneur" mean?

• A government official managing business policies

• An individual who takes risks to set up a business

• A person who invests in the stock market

• A professional accountant

What is the main aim of a private limited company (Ltd)?

• To make profits for shareholders

• To provide public services

• To give full control to the government

• To work without a profit motive

Which of these is an ethical consideration for a business?

• Reducing customer prices

• Paying fair wages to employees

• Maximizing shareholder profits

• Increasing automation

How does technological advancement most benefit businesses?

• By reducing employee morale

• By cutting costs and improving efficiency

• By reducing competition

• By increasing legal obligations

What is a key impact of high inflation on a business?

• Reduced borrowing costs

• Lower costs for raw materials

• Increased costs for wages and goods

• Increased demand for products

What is the effect of a strong pound on UK exports?

• Exports become cheaper

• Exports become more expensive

• Exports remain unaffected

• Exports are reduced to zero

Which legislation protects a person who has bought and used a product?

• Data Protection Act

• Consumer Rights Act

• Employment Rights Act

• Health and Safety Act