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S3 Business

Total questions: 20

Worksheet time: 11mins

Name
Class
Date
1.

External influences on a business refer to

a)

Factors that are good for the business

b)

Factors that are bad for a business

c)

Factors that are outside the control of the business

d)

Illegal actions by a business

2.

Who is the Prime Minister of the UK?

a)

Boris Johnston

b)

Nicola Sturgeon

c)

Rishi Sunak

d)

Liz Truss

3.
A sole trader has responsibility for
a)
preparing the accounts of the business
b)
all aspects of their business
c)
selling the products
d)
completing spreadsheets
4.

The main objective of the public sector is

a)

to make a profit.

b)

to provide a service.

c)

to provide advice.

d)

to pay dividends.

5.

Glasgow City Council is an example of.....

a)

a local authority

b)

a national government

c)

a panel

6.

A percentage of money taken from individuals or businesses is referred to as

a)

property tax

b)

excise tax

c)

income tax

d)

sales tax

7.
How many people own a sole trader business?
a)
3
b)
2
c)
1
d)
20
8.
What is unlimited liability?
a)
If the business fails you will not lose personal possessions
b)
If the business fails you will lose personal possessions
9.

Which of the following industries is an example of a primary industry?

a)

Coal Mining

b)

House Building

c)

Hotels

d)

School

10.

Identify the correct factor of production.

Individuals with great ideas and willing to take risks.

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

11.

Identify the correct factor of production.

Machinery and factories are?

a)

Natural resources

b)

Labour

c)

Capital

d)

Entrepreneurship

12.

Businesses that operate in the tertiary sector provide:

a)

Social services

b)

Natural resources

c)

Manufactured products

d)

Services

13.

What are the three sectors of industry?

a)

First, Second and Third

b)

Private, Public and Third

c)

Primary, Secondary and Tertiary

d)

Land, Labour and Enterprise

14.

This word means "a picture, short film, song, etc. that tries to persuade people to buy a product or service"

a)

modification

b)

advertisement

c)

liaison

d)

inventory

15.

If a company is _________, it means that it's known to be honest and do good work.

a)

distributor

b)

wholesaler

c)

profitably

d)

reputable

16.
Which of the following best describes a target market?
a)
Close competitors of a business
b)
The people who buy a business's products
c)
Groups that do not buy a business's products
d)
The individuals at whom a business's marketing strategies are aimed
17.
Which of the following best describes market segmentation?
a)
Dividing a large market into a smaller sub-market
b)
Selling goods for less than their production cost to maximise sales
c)
Maintaining long-term ties with customers to encourage repeat sales
d)
Identifying the consumer groups most likely to buy a business's products
18.

What do 4 P’s of the marketing mix stand for?

a)

Product

b)

Price

c)

Promotion

d)

Place

e)

Planning

19.

Product

a)

The cost to the buyer of goods or services

b)

Informing customers about products and persuading them to buy them

c)

Where goods or services are available

d)

Goods or services that are sold

20.
This involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services
a)
Survey Creation
b)
Marketing Research
c)
Advertising Selection
d)
Marketing Discovery