WorksheetsBusiness and its environment A Level
Total questions: 14
Worksheet time: 10mins
The machinery that is used by a business is an example of which factor of production?
land
labor
capital
enterprise
An entrepreneur is someone who:
is an employee of a business enterprise
takes the risk of starting and managing a business venture
works for the government to provide public services
just provides capital to a business start-up
Which one of the following is not likely characteristic of a successful entrepreneur?
willing to take risks
committed and self-motivated
innovative
risk averse
Business enterprise is claimed to bring all of the following benefits to an economy with the exception of:
creation of employment
a more dynamic and innovative economy
economic growth
a reduction in competition
External environment that is required by a business to be able to operate are as follow except
government
manager
supplier
customer
Service industries fall into ....... business sector.
primary
secondary
tertiary
consumer
Examples of consumer service, except:
oil company
insurance
theme park
university
What is opportunity cost?
the value of the next best option that is not selected when a choice is made.
there is not enough of it.
things people make to earn money.
actions people do to earn money.
Michael has been invited by a friend to go fishing on Friday. His parents are going to a concert. Michael chooses to go fishing with his friend. What is his opportunity cost?
fishing with a friend
going to a concert
Provide raw materials for business.
government
supplier
primary sector
entrepreneur
Answer the rest of the questions based on Levi Roots business.
What is the uniqueness of his product?
cheaper
family recipe
spicy
the song
What was the cause of Levi's success of his business growth in the market?
the song become viral
$100000 additional investment
he won the Dragon Den TV show
distributed at one of the largest retail company
One of the barriers that Levi had to overcome is
there was no opportunity in the market
he did not have any business background
not enough capital
he had to give 25% of his profit to the investor
Write 7 stakeholders in a business. (Business Web)
