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WorksheetsOCR Business 1.1 - 1.4
Total questions: 15
Worksheet time: 8mins
Which one of the following is not a benefit of being a sole trader?
Own boss
Keep all profits
Pursue personal goals
Shared responsibility
Which of these statements is not a business objective?
A business seeks to maximise the profit it makes
A business wishes to increase its sales.
A business cuts the wages of its workers.
A business wants to gain a good reputation by providing a good service.
Abdul has just opened a coffee shop in a small town where there are already four other coffee shops. He needs to establish the business in this competitive market by gaining sufficient customers to help it to stay in business in the longer term.... which business objective does it match up to?
Profit
Survival
Growth
Providing a service
The Co-Operative supermarket chain aims to act responsibly and respectfully to its customers.... which business objective does it match up to?
Profit
Survival
Growth
Providing a service
American business, Post Holdings, has bought the Weetabix brand from owners, China Bright Food..... which business objective does it match up to?
Profit
Survival
Growth
Providing a service
E.ON, the energy company, has raised its prices even though costs have not risen...... which business objective does it match up to?
Profit
Survival
Growth
Providing a service
The owners of a business can only lose the money they have invested in a business if it fails... refers to
Unimited liability
Limited liability
Moderate liability
Full liability
Which type of business ownership has shares which can be sold?
Sole trader
Partnership
Private limited company
Public limited company
Which type of business ownership has no continuity?
Sole trader
Partnership
Private limited company
Public limited company
Which type of business ownership can raise the most money?
Sole trader
Partnership
Private limited company
Public limited company
Match the following description with the keyword:
• Identify how the product or service will be different to those sold by others.
The idea
The people
Market research
Finance
Competitors
Which description best describes an entrepreneur
A person who removes the risk of selling a business enterprise.
A person who takes the risk of starting and running a business enterprise.
A person who removes the risk of starting and running a business enterprise.
A person who takes the risk of selling a business enterprise.
What is unlimited liability?
It means you do have to pay the debts of the company you own
It means you have no company debts
It means you don't have to pay the debts of the company you own
If the creator of a business wishes to retain control they should NOT form a ...
Franchise
Partnership
Public limited company
Sole trader
What kind of business doesn't pay its employees and relies on volunteers?
Sole trader
Franchise
Social enterprise
Charity
