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WorksheetsCheck In Quiz - Unit 1
Total questions: 20
Worksheet time: 10mins
How many Factors of Production are there?
2
3
4
5
What are the Sectors of Industry?
Private, Public, Third
Primary, Secondary, Tertiary, Quaternary
Primary, Secondary, Third
Private, Public, Tertiary, Quaternary
A car manufacturer belongs to which Sector of Industry?
Primary
Secondary
Tertiary
Quaternary
A hotel belong in which Sector of Industry?
Primary
Secondary
Tertiary
Quaternary
"Adding value to a product as it moves along a production line" is called what?
Adding Value
Gaining profit
A franchise
Wealth Creation
How many Sectors of Economy are there?
2
3
6
4
The Private Sector is made up of businesses which aim to...?
Raise funds
Raise awareness
Make use of taxpayers money
Make profit
Private and Public Limited Companies are owned by whom?
Stakeholders
Shareholders
The Government
Volunteers
Shareholders have limited liability in an LTD.
True
False
Identify a disadvantage of being an LTD.
Ownership is lost to outsiders
Unlimited Liability
Profits have to be split with all shareholders
Limited Liability
"A business model that allows businesses to pay a sum of money to own a brand of an already existing, well known business" is called what?
Public Limited Company
Multinational
Franchise
Social Enterprise
Identify an advantage of being a Franchisee.
A low risk form of growth
Low initial start up fees
Training is provided by the Franchiser
Royalty payments must be paid annually
Identify the advantages of becoming a Multinational.
Wages and raw materials are lower in host countries
Cultural differences
Government grants can be issued
Provide jobs and training
Which of the businesses below is not a Third sector organisation?
Tesco
Oxfam
Social Bite
SSPCA
"This type of business sells shares to the general public on the Stock Market"...
Private Limited Company
Public Sector Organisation
Social Enterprise
Public Limited Company
Identify the advantages for Social Enterprises.
Likely to attract good quality employees who believe in the social 'mission'
Likely to receive Government Grants
Likely to gain lots of shareholders
Has Unlimited Liability
Identify the objectives of a Public Sector organisation.
To maximise profit
To make good use of taxpayer's money
To increase their market share
To provide a high quality service
Which of the businesses below would aim to maximise profit?
NHS
Nike
Apple
Oxfam
What does 'CSR' stand for?
Corporate Survival Responsibility
Cultural Social Responsibility
Corporate Social Responsibility
Company Survival Reasoning
Identify the advantages of having a positive CSR image?
Good reputation with customers
Attract high quality staff who believe in the ethics
Gives the business a competitive advantage
Decreases sales
