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WorksheetsTopic 1 PPE Revision
Total questions: 42
Worksheet time: 25mins
Name
Class
Date
1.
What is meant by a 'stakeholder'?
a)
Anyone who is in control of the business
b)
Anyone who affects the running of a business
c)
Anyone who wants to own a business
2.
what is the definition of a Business Aim?
a)
A broad statement that the business owner wants to achieve
b)
A general target the business works towards
c)
A specific target a business sets
3.
What is a Business Objective?
a)
A statement the business uses to gain customers
b)
A specific target the business sets to achieve their aim
c)
A general Goal a business wants to achieve
4.
What does SMART objectives stand for?
a)
Specific, Measurable, Agreed, Realistic, Time
b)
Specific, Measurable, Achievable, Reliable, Time
c)
Shared,Measurable, Agreed, Responsible, Time
d)
Specific, Measurable, Available,Realistic, Time
5.
Give two reasons why a business objective might change?
a)
Launching a new product
b)
Manager leaves
c)
Business becomes more established in the market
d)
Customer complaints
6.
outline one possible objective of suppliers
a)
increase sales
b)
increase the value of their shares
c)
launch a new product
7.
what is a shareholder?
a)
someone who invests and owns a share of the business
b)
someone who affects the running of the business
c)
someone who purchases items from the business
d)
someone who supplies raw materials to the business
8.
Someone who purchases a new car is called a .....
a)
Consumer
b)
Customer
9.
Someone who drives a new car is called a...
a)
Consumer
b)
Customer
10.
A dynamic business is one which...
a)
Is the market leader
b)
Is efficient in hiring and firing staff
c)
adapts to external influences
11.
Does this business provide a good, service or both?
Accountant
Accountant
a)
Goods
b)
Services
c)
Both
12.
Does this business provide a good, service or both?
Topshop
Topshop
a)
Goods
b)
Services
c)
Both
13.
Does this business provide a good, service or both?
Sky
Sky
a)
Goods
b)
Services
c)
Both
14.
How many people can be in a partnership?
a)
2
b)
2-10
c)
2-20
d)
200
15.
what is unlimited liability?
a)
Personal possessions CAN be taken to repay a debt
b)
Personal possessions CANNOT be taken to repay a debt
16.
What is a sole trader?
a)
One person who works for a business
b)
One person who sues a business
c)
One person who leaves a business
d)
One person who owns and runs a business
17.
what does PLC stand for?
a)
Public Limited Company
b)
Private Limited Company
18.
What does LTD stand for?
a)
Public Limited Company
b)
Private Limited Company
19.
What is a business plan?
a)
Report about a company's finances
b)
Report about why a business is closing
c)
Report detailing everything about a business
d)
A report about a plan
20.
What is a franchise?
a)
When a person buys from a business
b)
When a person buys the rights to a business
c)
When a person owns a new business
d)
When a person sues a business
21.
Which of these is an example of an internal stakeholder?
a)
Customers
b)
Local Community
c)
Employees
d)
Financiers
22.
Which of these is an example of an external stakeholder?
a)
Employees
b)
Customers
c)
Employers
d)
Shareholders
23.
What is tax?
a)
Money paid to businesses
b)
Money paid to the government
c)
Money paid to employees
d)
Monday paid to homeless people
24.
What is Limited Liability
a)
Personal possessions CANNOT be taken to
b)
Personal possessions CAN be taken to repay
25.
Which of the following Ownerships have unlimited liability
a)
Sole Trader, Partnership
b)
Public Limited Company, Sole Trader
c)
Private Limited Company, Partnership
d)
Private Limited and Public Limited Companies
26.
What is a Co-operative?
a)
A Business set up to change the world
b)
A Business own and run by its members
c)
A non for profit making organisation
27.
Which of the following Businesses is a Charity?
a)
Toms
b)
British Heart Foundation
c)
The Big Issue
d)
The Post Office
28.
What is the difference between a Social Enterprise and a Charity?
a)
Social Enterprise is funded by donations and charity is run by volunteers
b)
Charities use donations where as Social Enterprise sells Goods and Services
29.
1. Business locations is define as the positions in which business are placed.
a)
true
b)
false
30.
What is the main important factor for a retail business?
a)
Labour Costs
b)
Cost of raw materials
c)
Footfall
d)
Rent
31.
In a deprived area, what would attract a business?
a)
Government Grants
b)
Availability of labour
c)
Advice and Support
d)
Cost of stock
32.
Refers to the number of people who pass a retail location during a given period of time.
a)
Passage
b)
Traffic
c)
Movement
d)
Patronage
33.
What is an entrepreneur?
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market.
34.
What is meant by enterprise?
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market.
35.
What are the characteristics of an entrepreneur?
a)
Creative, risk taker, determined, confident, adaptable
b)
Not creative, risk averse, unreliable, joker
c)
Happy, loving, joker, hard working
d)
Predictable, sad, demotivated, risk averse
36.
Define the term 'risk'
a)
A person who spots an opportunity to provide goods or services to customers in order to make a profit
b)
The process/activities by which new businesses are formed in order to offer products and services in a market
c)
This is the possibility that the business will have a lower than expected profit or a loss
d)
Check it satisfies a customer need = market research
37.
Define what is meant by the term 'reward'.
a)
This is the possibility that the business will have a lower than expected profit or a loss
b)
This is the benefit of having a business which may be keeping the profit, working for yourself or being able to take holidays when you want
38.
The reward for enterprise is?
a)
Profit
b)
Hard work
c)
Risk
d)
Self-discipline
39.
A risk of any business is that someone else might steal your _________ _________.
a)
Personal details
b)
Financial details
c)
Emails
d)
Intellectual property
40.
Blockbusters failed to address the threat of Netflix as they had no digital content available online. Why did this happen?
a)
Failure to plan/Lack of strategy.
b)
Failed to satisfy the needs of customers
c)
Both answers are correct
41.
In times of ______, political instability and economic difficulty consumers tend to save not spend.
a)
Recession
b)
Market
c)
Summer
d)
Forecast
42.
A reward for setting up your own business is.....
a)
You work for someone else and get a salary and holiday entitlement.
b)
Be your own boss, make your own decision and change the business as you want.
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