WorksheetsBusiness 1.4
Total questions: 17
Worksheet time: 9mins
Define sole trader
1 person owns the business
2 or more people own the business
The business is owned by shareholders
They sell the bottom of shoes
Define partnership
1 person owns the business
2 or more people own the business
The business is owned by shareholders
They sell the bottom of shoes
Which of these types of business ownership has unlimited liability?
Private limited company
Public limited company
Sole trader
Partnership
Private unlimited company
Which of these types of business ownership has limited liability?
Private limited company
Public limited company
Sole trader
Partnership
Private unlimited company
Define franchisee
The business which sells the rights for others to sell under their name
The business/individual which purchases the rights to sell under another business' name
A business owned by someone named fran
A business owned by shareholders
Which of the following are examples of a franchise?
McDonald's
Subway
King du
Amazon
Which stakeholder can a partnership and sole trader not have?
Shareholder
Government
Employee
Customer
Which of the following is able to raise money through selling shares?
Private limited company
Public limited company
Sole trader
Partnership
Private unlimited company
Which of the following are methods of location? Proximity to...
Market
Competition
Labour
Raw materials
Which of these come under the marketing mix?
Price
Promotion
Position
Prime candidate
Why would a business locate near its competitors?
To take their customers
To become allies
To merge
To improve relations
Why would a business locate near customers?
To increase footfall
To advertise more
To make it easy for customers to get to them/buy their products
To make competition jealous
Define 'bulk gaining' product
Where the end product is bigger than the raw materials
Where the end product is smaller than the raw materials
when you buy in bulk
When the product keep gaining money
Define 'bulk reducing' product
Where the end product is bigger than the raw materials
Where the end product is smaller than the raw materials
when you buy in bulk
When the product keep gaining money
Which of the following are in a business plan?
Aims + Objectives
Target market
Lowering prices
Entrepreneurial activities
Which of the following come under SMART?
Specific
Maintain
Achievable
Rigorous
Time-bound
Pick as many reasons why a business makes a business plan?
To reduce risk
To improve chances of getting a loan
To look better than competition
To provide customers with good aims
