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WorksheetsBusiness Form 1 - Term 1 Test 2
Total questions: 15
Worksheet time: 31mins
Concerned with finished goods
Service Business
Private Sector Business
Secondary Sector of the Economy
The money made after cost of goods has been subtracted
Profit
Fixed Capital
A need
Buildings and Machinery
Profit
Fixed Capital
Land
An Ipad
A goods business
A want
A need
A doctor’s surgery
Land
Labour
Service Business
One of the 4 Factors of Production
Private Sector Business
Labour
Service Business
Fixed Capital
Required as a fundamental input for the business for example, having an Operations Manager
Service Business
Profit
A need
Labour
Companies that are not owned by the Government
Service Business
Private Sector Business
A goods business
Clothing stores are an example of this
Labour
Land
A goods business
Service Business
Water is an example of
A want
A need
Profit
Labour
James makes and sells pies. James pays $0.75 for ingredients for each pie and he pays $0.28 per pie to the worker in the kitchen who helps him make the pies.
He pays rent of $500 per month, and all his other expenses including electricity, transport and advertising together total $350 per month.
James makes and sells 1250 pies per month, and sells each pie for $3.20.
How much does James pay for ingredients to make all 1250 pies? Only put the final answer in. Do not leave any spaces in your answer
(a)
James makes and sells pies. James pays $0.75 for ingredients for each pie and he pays $0.28 per pie to the worker in the kitchen who helps him make the pies.
He pays rent of $500 per month, and all his other expenses including electricity, transport and advertising together total $350 per month.
James makes and sells 1250 pies per month, and sells each pie for $3.20.
Calculate Jame’s total costs per month
(a)
James makes and sells pies. James pays $0.75 for ingredients for each pie and he pays $0.28 per pie to the worker in the kitchen who helps him make the pies.
He pays rent of $500 per month, and all his other expenses including electricity, transport and advertising together total $350 per month.
James makes and sells 1250 pies per month, and sells each pie for $3.20.
Calculate Jame’s revenue per month
(a)
James makes and sells pies. James pays $0.75 for ingredients for each pie and he pays $0.28 per pie to the worker in the kitchen who helps him make the pies.
He pays rent of $500 per month, and all his other expenses including electricity, transport and advertising together total $350 per month.
James makes and sells 1250 pies per month, and sells each pie for $3.20.
What is Jame’s profit per month
(a)
James' business is successful
True
False
