WorksheetsUnderstanding Business Revision
Total questions: 10
Worksheet time: 5mins
Businesses that grow products and extract resources from the land belong to the
Tertiary Sector
Primary Sector
Secondary Sector
Employees can have an influence on a business by
Raising levels of taxation
Taking industrial action
Changing the selling price of the products
The abbreviation PESTEC is often used to define
Both internal and external factors that influence a business
Internal factors that influence a business
External factors that influence a business
Land, labour, capital and enterprise are collectively known as
Goods and services
Business cycle
Factors of production
More and more businesses are becoming active and involved in e-commerce. This is a result of
Technological factors
Environmental factors
Political factors
An employee's main interest in a large company is likely to be
Fair pay for the work they do
Profit maximisation
Ensure the organization does not damage the environment
Organisations run by central or local government are often referred to as
Private sector
Voluntary sector
Public sector
A business owned by one person is called a
Franchise
Sole trader
Small business
Business objectives are sometimes referred to as
Rules and procedures
Obstacles
Goals and targets
A public limited company should have
No maximum number of objectives
One objective
Between 2 and 5 objectives
