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WorksheetsBusiness Studies Assessment Revision
Total questions: 10
Worksheet time: 10mins
What is an entrepreneur?
Someone who owns a small business
Someone who takes on the risk of starting and running a business enterprise
Someone who owns multiple businesses
An individual who owns a multi million pound business
What are the characteristics of being an entrepreneur?
Businesses exist to (a) the needs of customers.
Which of the following is a disadvantage of being an entrepreneur?
Independence
Self-satisfaction
Financial losses
Financial rewards
What is a business plan?
What is the purpose of business planning?
To make profit
To reduce risk of debt
To allocate resources where needed
To help a business succeed
How often should a business plan be updated?
At least once a year.
Never at all, there is no need to do so.
Ever quarter to allow allocation of resources.
3- 5 times a year
Which of the following is not in the contents of a business plan?
Market research
Competitors
Target market
Supplier information
Markets are where a business (a) its goods and services.
A business plan would normally be written:
every month
a month after the business starts
after a business has become established and competitors are known
before a business starts
