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WorksheetsBusiness Activity AFL
Total questions: 20
Worksheet time: 10mins
Organisations run by central or local government are often referred to as
Private sector
Voluntary sector
Public sector
Mixed economy
Which of the following characteristics does a successful entrepreneur have? You may find more than one option. Tick all answers that apply...
Creative / innovative
Willing to take calculated risks
Determined & resilient
Risk averse (one who avoids risk)
Confident & good at communication
What might an entrepreneur risk when starting up a business? You may find more than one option. Tick all that apply...
They might have invested their own personal savings
Relationships with family & friends might suffer due to long hours
Giving up a job / steady income
Getting rich if the business does well
Which of the following is an internal stakeholder of a business?
The government
A supplier
A customer
An employee
Why is the government a stakeholder of most businesses?
The government owns all businesses
The government receives dividends from all businesses
The government receives taxes from businesses
The government wants businesses to fail so that unemployment rises
________ is a good or service essential for living
Want
Desire
Needs
Factor of production
Business are only owned by private individuals.
True
False
What is an 'entrepreneur'?
A person in charge of the business strategy.
A person who lends the funds to set up a new business venture.
A person who organises, operates and takes the risk of a new business venture.
A group of people in charge of creating the business plan of a new venture.
Which of the following is NOT part of business activity?
Making laws for the country
Using resources
Producing goods or services
Trying to make a profit
Which of the following is a consumer good?
steel panel
concrete
packet of washing powder
jar of coffee
Which of the following is a producer good
Car
Airline ticket
Item of clothing
robot technology for a production line
Which of these needs is MOST likely to be met by the government rather than businesses?
Food
Schools
Street lights
Clothing
Which of the following is best described as a want rather than a need?
Holiday
Food
A home
Basic medicine
Which of the following is an external stakeholder of a business?
Manager
Owner
Employee
Customer
Which stakeholder is MOST interested in a business making as much profit as possible?
Customer
Manager
Shareholder/investors
Employee
Which stakeholder is MOST interested in the ability of a business to repay the money it owes [debts]?
Creditor (financiers)
Manager
Shareholder
Society (community)
Give reasons why the government is as stakeholder in all businesses
Government employees work for all businesses
Businesses pay taxes
The government buys products from all businesses
The performance of a business affects the performance of the economy
ALL businesses try to make as much profit as possible
True
False
The main output of an airline is .........
A service
A good
The main output of a car manufacturer is ..........
Goods
Services
