Font size
WorksheetsBusiness, Economics & Trade
Total questions: 20
Worksheet time: 13mins
Market share is...
the portion of a market controlled by a particular company or product.
how many shares someone owns in the market.
the amount of people a company shares its profits with in the market.
All of the above.
Investment or money owned by a person that can be used to start a business is known as...
profit
capital
debt
cash
Participants (or sectors) in our Australian economy include which of the following?
Household (Consumers) Sector
Overseas Sector
Firms (Producers) Sector
Financial Sector
Government Sector
Where do the majority of finances for a small business come from?
A bank
The owner(s)
An investor
All of the above
Woolworth & Qantas are examples of a
small business.
medium business.
large business.
franchise.
Which of the following are benefits to starting a new business.
Ability to express your interests/creativity in business.
Setting up the business the way you want.
Selecting the business location.
Limited choices in business decisions.
In 2018, the three biggest export destinations of Australian products were...
India
China
Hong Kong
Japan
South Korea
(a) is when the business owner(s) hold responsibility for all of the debts and profits of the business.
(a) is the total market value of all goods and services produced within Australia in a given time frame.
An increase in the general level of prices paid for goods and services over a certain period of time is known as...?
Inflation
GDP
Unemployment
Economic growth
The process that involves linking countries and integrating the world markets, resulting in an exchange of views, ideas, products and culture is known as...?
Trade
Urbanisation
Globalisation
Imports
Which business structure allows one business to operate under the trading name of another company’s established brand and sell its products and/or services?
Sole trader
Partnership
Company/Corporation
Franchise
A (a) refers to a business that is owned by one person. That person makes most of the major decisions and is liable for all debts.
A business which is a separate legal entity, who's management is usually separate from its owners, is which business structure?
Sole trader
Partnership
Company/Corporation
Franchise
True or False. All Australian companies are listed on the Australian Stock Exchange (ASX)?
True
False
Which of the following are benefits of having a partnership business?
Owners share the decision-making, capital and expertise
Unlimited liability
Ability to raise significant capital
Debts can be shared between the owners
Which of the following are disadvantages of a franchise business?
There may be little room for creativity in business.
Ongoing sharing of profit with the franchisor.
Relatively easy to change business structure if the business grows.
Small business ownership supported by a big business network.
Rate your understanding of business structures.
Confident
Good (Some revision needed)
Average (Focus on revising this topic)
Limited (I need teacher support)
Rate your understanding of economics (including participants, economic indicators & assessing our economy).
Confident
Good (Some revision needed)
Average (Focus on revising this topic)
Limited (I need teacher support)
Rate your understanding of international trade (including imports/exports, globalisation & global companies).
Confident
Good (Some revision needed)
Average (Focus on revising this topic)
Limited (I need teacher support)
