Font size
WorksheetsAQA GCSE BUSINESS
Total questions: 15
Worksheet time: 8mins
Good
A physical product
E.g. a car
E.g. financial advice
An intangible product (that is, you cannot touch it)
Service
A physical product
E.g. a car
E.g. financial advice
Intangible product that is, you cannot touch it)
Customer
Someone who sells a product
Someone who buys a product
Someone who uses a product
Someone who manufactures a product
Consumer
Someone who buys a product from the business
Someone who uses goods and services produced by businesses
Someone who sells a product
Someone who manufactures a product
Entrepreneur
Someone who sets up a business
Someone who is willing to take the risks involved in starting a new business
The CEO of a business
Someone who works for a business
Characteristics of an entrepreneur
Innovative
Risk taker
Passive
All of the above
Opportunity cost
The costs of success
What you miss out on the stock exchange
When you try achieve something and fail
The cost of missing out on the next best alternative
Sole trader
Someone who is the leader of their own business
Someone who does all the work in a business on their own
Someone who sets up in business on their own
Profit is the difference between the businesses total revenue and total cost. True or False?
True
False
Unlimited liability means that the personal possessions of the owners of the business at risk if there are any problems. True or False?
True
False
A partnership occurs when two or more people join together in a business enterprise to pursue profit. True or False
False
True
A Deed of Partnership
The laws and legislation a partnership has to follow
An agreement between partners that sets out the rules of the partnership so there are no arguments
A government issued statement on how to run a partnership
A business plan
A company is a business that has its own legal identity. It can own items, own money, sue and be sued. True or false?
True
False
Shareholder
A person or an organisation that owns part of a company. Each shareholder owns a ‘share’ of the business
Person or an organisation that is affected by a business. E.g. the government, customers, the local community
An employee of a business
Flotation
When a public limited company becomes a private limited company and has its shares taken off of the stock exchange
When a public limited companies first set up and its shares are put up on the stock exchange
A way of buying stocks on the stock exchange
When a private limited company becomes a public limited company and has its shares listed on the stock exchange
