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WorksheetsTypes of Businesses
Total questions: 25
Worksheet time: 13mins
Businesses including farming, fishing, forestry & the extraction of natural resources e.g. oil, minerals etc.
Tertiary Sector
Primary Sector
Secondary Sector
The economic problem
Land, labour, capital and enterprise are collectively known as
Goods and services
Business cycle
Factors of production
Output
Organisations run by central or local government are often referred to as
Private sector
Voluntary sector
Public sector
Mixed economy
Which of these business activities are usually NOT in the public (government) sector?
grocery stores
health
defence
public transport
Oxfam is a charity that operates in the Third Sector. Identify 2 other Sectors of Economy.
Primary and Secondary
Primary and Tertiary
Private and Public
Private and Third
Give a description of the Private Sector.
Owned by the government on behalf of the taxpayer.
Owned by private individuals who aim to make a profit.
Owned and regulated by the government and aim to raise funds and awareness
Owned by a sole trader
Enterprise is a Factor of Production. Identify the other Factors of Production.
Land, Labour and Country
Primary, Secondary and Tertiary
Private, Public and Third
Land, Labour and Capital
A business owned by one person is called a
Franchise
Sole trader
Small business
Which of the following organisations belong to the third sector of the economy?
Sole traders
Social Enterprises
Public Sector Organisations
Charities
Which of the following are examples of goods?
T-Shirt
Haircut
Television
Supermarket Home Delivery
Pick the three sectors of economy...
Private
Public
Third
Secondary
The private sector is funded by tax
True
False
What sector does Starbucks operate in?
Private
Public
Third
Iain Buchanan Orthodontist Practice is in what sector?
Private
Public
Third
What sector does the Big Issue operate in?
Private
Public
Third
Unlimited liability affects what two types of businesses?
Sole traders
Partnerships
Private limited companies
Public limited companies
A private limited company is run by what...
A board of directors
Shareholders
The owner
The employees
What sector of economy does this fall under?
Private
Public
Third
Pick the advantages of a sole trader is...
Decisions can be made quickly.
The sole trader keeps all of the profit made.
Can share the workload and responsibility.
Has to sign a large amount of legal documents.
A partnership has...
2-20 partners
2-16 partners
2-22 partners
2-18 partners
Who pays taxes to fund the public sector? Pick 2
The government
Businesses
Individuals
The public sector aims to make good use of taxpayers’ money and provide the services needed.
True
False
What sector of economy does Nando's belong to?
Private
Public
Third
This organisation comes under what sector of industry?
Private
Public
Third
