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WorksheetsS3 Business - Revision Quiz
Total questions: 16
Worksheet time: 8mins
A need is something that...
is necessary for our survival and that we cannot live without
is something that we do not need in order to survive but we would like them to improve the quality of our lives
A want is something that...
is something that is necessary for our survival and that we cannot live without
is something that we do not need in order to survive but we would like them to improve the quality of our lives
2 examples of goods are...
Hair cut
Phone
Pencil
Education
2 examples of services are...
PlayStation
Bus journey
Cuddly toy
Car wash
The 4 factors of production are...
Land, Labour, Money & People
Capital, Enterprise, Materials & Buildings
Land, Labour, Capital & Enterprise
Labour, Capital, Money & People
Identify the following 3 skills an entrepreneur should have...
ICT
Communication
Leadership
Confidence
Identify the following 3 qualities an entrepreneur should have...
Determination
Problem Solving
Risk-Taking
Creative
What are the 3 sectors of industry?
Primary, Secondary & Voluntary
Primary, Secondary & Tertiary
First, Second & Third
What does the primary sector involve?
Businesses that are involved in extracting the world’s natural resources
Businesses that primarily manufacture goods using the resources gathered
Businesses that do not manufacture or harvest resources, but instead provide a service
What does the secondary sector involve?
Businesses that are involved in extracting the world’s natural resources
Businesses that do not manufacture or harvest resources, but instead provide a service
Businesses that primarily manufacture goods using the resources gathered
What does the tertiary sector involve?
Businesses that are involved in extracting the world’s natural resources
Businesses that do not manufacture or harvest resources, but instead provide a service
Businesses that primarily manufacture goods using the resources gathered
What are the 3 sectors of the economy?
Primary, Secondary & Tertiary
First, Second & Third
Private, Public & Third
2 types of businesses within the private sector are...
Sole Trader
Charity
Partnership
2 types of businesses within the public sector are...
Franchise
Local Government
Central Government
2 types of businesses within the third sector are...
Sole Trader
Voluntary
Social Enterprise
What is a business objective?
What the business wants to do in the future
The vision and values that a business has
Targets which the business aims to achieve
