WorksheetsS2 Business Revision
Total questions: 32
Worksheet time: 19mins
Which of these explains a want, not a need?
Shelter: If you don't have this you could possibly die in cold weather
Chocolate: People like to eat this as a sweet treat, some may think it's delicious.
Protein: This is important for having good health. It provides valuable nutrients.
Clothes: You wear these to stay warm and out of jail.
The definition of a need is: Something that is essential for life and ________ to __________.
necessary, survive
essential, life
necessary, essential
essential, survive
A want is: Something that makes life more happy and _________ but not _________ to survive.
necessary, comfortable
essential, necessary
happy, comfortable
comfortable, necessary
Which is a want?
A place to live (shelter)
Oxygen
Car
Food
A want is something we would like to have but could easily live without it.
True
False
Which of these is not an example of goods?
Hand sanitiser
Gardening
Football boots
iPhones
Which of the following is MOSTLY a provider of services?
Tesco
Estate agency
Subway
None of these - they are mostly goods
Which of these is not one of the factors of production names that we learned about?
Labour
Money
Enterprise
Land
Which factor of production is to do with coal production?
Land
Labour
Capital
Enterprise
Which factor of production includes teachers, shop assistants and other employees?
Enterprise
Personnel
Labour
Capital
The property and money of an organisation is part of this factor of production.
Capital
Estates
Enterprise
Labour
Which Sector of Industry is to do with harvesting raw materials?
Primary
Secondary
Tertiary
None of these
The Sector of Industry involved with taking raw materials and making them into chairs, for example , is
Primary
Secondary
Tertiary
Insurance and transport are examples of this Sector of Industry.
Primary
Secondary
Tertiary
A sole trader is
Someone who owns a business.
A business owned by one person
Someone who sells products alone.
Someone who sells shoes.
A partnership is
managed by 2 -20 people
owned by 2 - 20 people
started by several entrepreneurs
None of these.
Enterprise
Land
Capital
Services
McDonalds would be in the...
Private Sector
Public Sector
Voluntary Sector
Unlimited liability means....
You will only loose the money you invested
You could loose the money you invested plus your savings
You could loose your savings
Unlimited liability is a disadvantaged for
Sole Traders
Partnerships
Sole Trader and Partnerships
What sector does Starbucks operate in?
Private
Public
Third
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
The public sector aims to make good use of taxpayers’ money and provide the services needed.
True
False
This organisation comes under what sector of industry?
Private
Public
Third
The 3 Sectors of Economy are?
Public Sector
Private Sector
Third Sector
Economic Sector
Charities are organizations working in the...
Third Sector
Private Sector
Public Sector
