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Topic 1 Business Activity Revision

Total questions: 51

Worksheet time: 26mins

Name
Class
Date
1.
How many people can be in a partnership?
a)
2
b)
2-10
c)
2-20
d)
200
2.
what is unlimited liability?
a)
Personal possessions CAN be taken to repay a debt
b)
Personal possessions CANNOT be taken to repay a debt
3.
What is a sole trader?
a)
One person who works for a business
b)
One person who sues a business
c)
One person who leaves a business
d)
One person who owns and runs a business
4.
what does PLC stand for?
a)
Public Limited Company
b)
Private Limited Company
5.
What does LTD stand for?
a)
Public Limited Company
b)
Private Limited Company
6.
What is a business plan?
a)
Report about a company's finances
b)
Report about why a business is closing
c)
Report detailing everything about a business
d)
A report about a plan
7.
What is a franchise?
a)
When a person buys from a business
b)
When a person buys the rights to a business
c)
When a person owns a new business
d)
When a person sues a business
8.
What is a stakeholder?
a)
A person who invests in a business
b)
A person who has interest in a business
9.
What is a franchise?
a)
When a person buys from a business
b)
When a person buys the rights to a business
c)
When a person owns a new business
d)
When a person sues a business
10.
What is a shareholder?
a)
A person who invests in a business
b)
A person who takes interest in a business
11.
Which of these is an example of an internal stakeholder?
a)
Customers
b)
Local Community
c)
Employees
d)
Financiers
12.
Which of these is an example of an external stakeholder?
a)
Employees
b)
Customers
c)
Employers
d)
Shareholders
13.
What is tax?
a)
Money paid to businesses
b)
Money paid to the government
c)
Money paid to employees
d)
Monday paid to homeless people
14.
What is Limited Liability 
a)
Personal possessions CANNOT be taken to
b)
Personal possessions CAN be taken to repay 
15.
Which of the following Ownerships have unlimited liability
a)
Sole Trader, Partnership
b)
Public Limited Company, Sole Trader
c)
Private Limited Company, Partnership 
d)
Private Limited and Public Limited Companies 
16.
What is a Co-operative?
a)
A Business set up to change the world
b)
A Business own and run by its members
c)
A non for profit making organisation 
17.
Which of the following Businesses is a Charity?
a)
Toms
b)
British Heart Foundation
c)
The Big Issue
d)
The Post Office
18.
What is the difference between a Social Enterprise and a Charity?
a)
Social Enterprise is funded by donations and charity is run by volunteers
b)
Charities use donations where as Social Enterprise sells Goods and Services
19.
What is the difference between a Social Enterprise and a Charity?
a)
Social Enterprise is funded by donations and charity is run by volunteers
b)
Charities use donations where as Social Enterprise sells Goods and Services
20.
Which of the following Businesses is a Charity?
a)
Toms
b)
British Heart Foundation
c)
The Big Issue
d)
The Post Office
21.
What is the difference between PLC and LTD?
a)
PLC sells shares on the Stock Market. LTD has to be invited to but shares/
b)
PLC cannot sell shares on stock market and must be invited to join. LTD can buy shares on stock market. 
22.
What is the difference between a Social Enterprise and a Charity?
a)
Social Enterprise is funded by donations and charity is run by volunteers
b)
Charities use donations where as Social Enterprise sells Goods and Services
23.
A consumer is....
a)
The person who purchases the product / service
b)
The person who uses the product / service
c)
The person who runs the business
d)
The person who is in charge of the finances of the business
24.
A customer is....
a)
The person who purchases the product / service
b)
The person who uses the product / service
c)
The person who runs the business
d)
The person who is in charge of the finances of the business
25.
A builder is an example of a
a)
Good
b)
Service
26.
Pizzahut is an example of a
a)
Good
b)
Service
27.
Having a car MOT is an example of a
a)
Good
b)
Service
c)
Good and service
28.

A bank provides a

a)
Good
b)
Service
c)
Good and service
29.
Factors that DO NOT influence consumer choice include...
a)
Price
b)
Design
c)
Promotion
d)
Whether you like it
30.
An example of Secondary sector business is...
a)
Farming
b)
Manufacturing
c)
A Shop selling Ice Cream
31.
An example of Primary sector business is...
a)
Farming
b)
Manufacturing
c)
A Shop selling Ice Cream
32.
An example of Tertiary sector business is...
a)
Farming
b)
Manufacturing
c)
A Shop selling Ice Cream
33.
Does this business provide a good, service or both?
Sky
a)
Goods
b)
Services
c)
Both
34.
Local, National or Global Business?
a)
Local
b)
National
c)
Global
35.
Local, National or Global Business?
a)
Local
b)
National
c)
Global
36.
Internal growth is where a business grows by joining another business
a)
True
b)
False
37.
External growth is where a business grows by selling more of its own products.
a)
True
b)
False
38.
Franchising is another way of internal expansion
a)
True
b)
False
39.
Economies of scale is when the cost per unit falls as a business expands
a)
True
b)
False
40.
External growth is where a business grows by selling more of its own products.
a)
True
b)
False
41.

Give an example of external growth.

a)

Growing plants outside

b)

Increasing the size of the factory.

c)

Two businesses joining together.

d)

Increasing market share.

42.

What is a merger?

a)

An extension tactic.

b)

Gluing two factories together.

c)

Where two or more businesses agree to join together.

d)

A welding process

43.

A takeover is when

a)

A business agrees to join with another business

b)

A business buys more than 50% of another business

c)

A business buys any share of another business

d)

A business takes over paying the workers of another business

44.

A takeover is when

a)

A business agrees to join with another business

b)

A business buys more than 50% of another business

c)

A business buys any share of another business

d)

A business takes over paying the workers of another business

45.

Which of the following is not an example of organic growth

a)

Increasing output

b)

Merging with a supplier

c)

Developing new products

d)

Gaining new customers

46.

Organic growth means

a)

Buying another business to make them bigger

b)

Joining together with another business to become a 3rd business

c)

Grows only using organic raw materials

d)

Growth from within the business

47.

Diversification means

a)

A business merges with a similar business

b)

A business takes over its supplier

c)

A business merges with one of its distributors

d)

A business merges with an unrelated business

48.

What is a disadvantage of growth?

a)

It can attract more competitors to the market

b)

It can increase production and output

c)

It can cost the business money in the short term

d)

It can cost the business money in the long term

49.

Sometimes a Government regulator may stop businesses merging. Why? Pick 2 reasons.

a)

Lead to little choice for customers

b)

Could lead to higher prices

c)

Make it harder to obtain goods

d)

Lead to tax payers bailing out the business

50.

Which of the following is an example of external growth?

a)

Building a factory extension

b)

Merging with another business

c)

Opening a new branch

d)

Selling via the internet

51.
What are stakeholders?
a)
Anybody who knows the name of the business
b)
Anybody who takes an interest in a business
c)
Anybody who works for the business
d)
Anybody who buys from the business

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