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WorksheetsHigher Understanding Business - Booklets 1 & 2
Total questions: 15
Worksheet time: 11mins
Which of the following is an example of a need?
Mobile phone
Holiday
Food
X-box
Goods are examples of tangible objects. The term tangible means something you can see and touch.
True
False
Unsure
A haircut is an example of a
Durable Good
Non Durable Good
Tangible Good
Service
The Factors of Production are
Primary, Secondary, Tertiary and Quaternary
Private, Public and Third
Land, Labour, Capital and Enterprise
Land, Labour, Tertiary and Quaternary
Businesses including farming, fishing, forestry & the extraction of natural resources e.g. oil, minerals etc.
Tertiary Sector
Primary Sector
Secondary Sector
Quaternary Sector
Who is this entrepreneur?
Steve Jobs
Mark Zuckerberg
Richard Branson
Bill Gates
Which of the following businesses operates in the Private Sector?
Social Enterprise
Public Limited Company
Charity
UK Government
Which of the following Sectors of Economy exist with the main aim of providing a quality service to the public.
Private Sector
Public Sector
Third Sector
Primary Sector
Which of the following is not an advantage of being a Sole trader?
Owner Keeps all the profits
Owner makes all decisions
Owner has Unlimited Liability
Business affairs kept private
Unlimited Liability refers to
When a business owner (Sole trader or Partnership) is unable to pay their debts and can lose their personal possessions to pay those debts.
When a business (Ltd or Plc) is unable to pay its business debts and the owner (Shareholders) can lose only the money they invested to buy shares.
Social Enterprises aim to make a profit
True
False
Which of the following organisations are financed through the selling of shares to the public?
Partnership
Private Limited Company
Public Limited Company
Soletrader
Which of the following Sectors of Economy does the NHS belong to?
Private Sector
Public Sector
Third Sector
Secondary Sector
Unlimited liability affects what two types of businesses?
Sole traders
Partnerships
Private limited companies
Public limited companies
Social Bite aim to eradicate homelessness in the UK. Which Sector of Economy does Social Bite operate in?
Private Sector
Public Sector
Third Sector
