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WorksheetsUnderstanding Business 1
Total questions: 13
Worksheet time: 6mins
Land, labour, capital and enterprise are collectively known as
Goods and services
Business cycle
Factors of production
Output
Businesses including farming, fishing, forestry & the extraction of natural resources e.g. oil, minerals etc.
Tertiary Sector
Primary Sector
Secondary Sector
Organisations run by central or local government are often referred to as
Private sector
Voluntary sector
Public sector
Mixed economy
An example of a Good is a newspaper....
False
True
How many Sectors of Industry are there?
3
7
4
5
Which Sector of the Economy would Sole Traders, Partnerships and Private Limited Companies be found in?
Public
Private
Third
At which stage of business activity are trees chopped down in the process of producing paper?
Which of these business activities are usually NOT in the public sector?
grocery stores
health
defence
public transport
What sector of the economy does Starbucks operate in?
Private
Public
Third
What sector does the Big Issue operate in?
Private
Public
Third
Unlimited liability affects what two types of businesses?
Sole traders only
Partnerships only
Private Limited Companies
Public sector organisations
Sole traders and Partnerships
