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Business Ch 1 - 4 Revision Quiz

Total questions: 25

Worksheet time: 13mins

Name
Class
Date
1.

Which of the following is in the Tertiary Sector

a)

Agriculture

b)

Construction

c)

Forestry

d)

Public utilities

2.

This occurs when the importance of the primary sector decreases and the importance of the secondary sector increases

a)

Industrialization

b)

De-Industrialization

c)

Privatization

d)

Nationalization

3.

Which of the following is an external stakeholder

a)

Shareholders

b)

employees

c)

workers

d)

Competitors

4.

Which of the following is a characteristic of a developed economy

a)

Most workers are employed in the Primary sector

b)

The primary sector is vast

c)

customers have few goods and services to choose from

d)

The primary sector is small

5.

Conflicts can occur between which stakeholders

a)

workers and Owners

b)

Managers and Customers

c)

Governments and customers

d)

Banks and governments

6.

All of the following are advantages of Market Economy Except

a)

Consumers have a wider variety of goods to choose from

b)

resources are allocated with minimum or zero waste

c)

High quality and low prices

d)

Profit is an incentive to increase efficiency

7.

When an Individual takes over a business in the Public sector, this is known as

a)

Nationalization

b)

Industrialization

c)

Privatization

d)

De-Industrialization

8.

Which country does not have a mixed Economy

a)

North Korea

b)

France

c)

Egypt

d)

Germany

9.

Which of the following are not a common business objective

a)

Profit

b)

lower Prices

c)

Added Value

d)

Growth

10.

The common objective for small new business would be

a)

Survival

b)

Maximize profit

c)

high market share

d)

Create a brand image

11.

Which of the following are advantages of adding value

(there could be more than one answer)

a)

Corporate social responsibility

b)

charge higher prices

c)

create better brand image

d)

change objectives dynamically

12.

All of the following are methods of measuring the size of the business except

a)

number of stakeholders

b)

number of people employed

c)

Capital employed

d)

added Value

13.

When a company that makes furniture takes over a forest, this is which type of integration

a)

Horizontal

b)

Vertical forward

c)

vertical backward

d)

conglomerate

14.

When a coffee shop merges with a coffee bean manufacturer, what type of integration is this

a)

Vertical forward

b)

conglomerate

c)

horizontal

d)

non are correct

15.

when a furniture company takes over a supermarket, what type of integration is this

a)

vertical backward

b)

non are correct

c)

conglomerate

d)

horizontal

16.

all of the following are problems faced due to growth except

a)

communication problems

b)

unwelcome public attention

c)

being close to customers

d)

financial problems

17.

A company owned and controlled by one person

a)

Ltd

b)

Plc

c)

Partnership

d)

Sole trader

18.

A company owned and controlled by 2-20 people

a)

Ltd

b)

Plc

c)

Partnership

d)

Sole Trader

19.

A company that sells shares in the stock market

a)

Ltd

b)

Plc

c)

Partnership

d)

Sole trader

20.

A company that can only sell shares to friends and family

a)

Ltd

b)

Plc

c)

Partnership

d)

Sole trader

21.

A company that gives permission for someone else to sell their products through license

a)

Ltd

b)

Franchise

c)

Plc

d)

Sole trader

22.

When 2 or more companies join on a specific project

a)

Franchise

b)

Joint Venture

c)

Private limited company

d)

Partnership

23.

an Advantage for a private limited company (Ltd) on going public is

a)

unlimited sources of finance

b)

limited liabilities

c)

unlimited liabilities

d)

the government will gain control

24.

for a company to sell shares on the stock exchange market it must be

a)

Quoted

b)

limited liabilities

c)

owned by one person

d)

owned by 2-20 people

25.

Which of the following is in the primary Sector

a)

Construction

b)

Canning food

c)

Forestry

d)

Public utilities