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WorksheetsBusiness in Action - Revision
Total questions: 25
Worksheet time: 13mins
Businesses may exist because...
People can make more money on their own instead of working for others
To fill a gap in the market
To provide goods/services to consumers
All of the previous answers
An example of a need is...
Trainers
McDonalds
Shelter
Mobile phone
Wants are...
Things that make our life more comfortable and are required for survival
Things that make our life more comfortable but are not required for survival
Things that we cannot live without
Goods are...
Anything which can be sold to a customer
Physical, tangible products sold to a customer
Knowledge and experience which are sold to a customer
Products sold to a customer
An example of a service is
Big Mac
New car
Computer
Taxi ride
Sectors of Industry are...
Public, Private, Third, Voluntary
Primary, Secondary, Tertiary, Quaternary
Primary, Second, Third, Quintenary
Internal, External
Sectors of Economy are...
Primary, Secondary, Tertiary, Quaternary
Internal, External
Private, Public, Third (Voluntary)
Which is not a Factor of Production
Land
Labour
Capital
Experience
Mark Zuckerberg is the entrpreneur behind...
Snapchat
'Smart' Targets are...
Specific, Measurable, Attainable, Realistic, Time Bound
Sensible, Mature, Achievable, Relevant, True
Specific, Managed, Accurate, Realistic, Technological
Single, Managed, Appropriate, Relevant, Time Bound
Wealth is created by a business by adding value to a product as it goes through the production process.
True
False
Who combines the factors of production?
Office staff
Entrepreneurs
Middle level management
What sector of industry is this in?
Primary
Secondary
Tertiary
An entrepreneur is the person who is willing to take the risk to see whether or not his or her idea will work.
True
False
Sole traders belong to the...
Third sector
Private sector
Public sector
An objective is something a business aims for - it's a target or goal to be achieved.
True
False
What information does a loyalty card provide for the business?
The other places a customer shops
The reasons why customers buy certain products
How much money the customer has in the bank
Shopping patterns and habits of the customer
What is a customer service policy?
A written statement of the organisation's policy and their plans on dealing with employees.
A written statement of the organisation's policy and their plans for dealing with customers.
A written statement of the organisation's policy and their plans for dealing with new products.
A written statement of the organisation's policy and their plans for dealing with finance.
Which of the following are benefits of good customer service? (pick 2)
Keeping loyal customers
Poor competitive edge
Higher staff turnover
Attracting new customers
How can a business ensure they provide good customer care? (pick 2)
Charge customers for calling them
Respond to emails promptly
Provide regular customer care training for employees
Ensure they do not refund their item
