Font size
WorksheetsUnit 1 Business Activity big review.
Total questions: 35
Worksheet time: 36mins
What are the factors of production?
Land, Labour, Capital, Enterprise
Land, Money, Skills, Loans
Capital, Workers, Skills, Products
Marketing, Advertising, Money, products
What does this describe? " mr Alex is opening a new language center. He decides to invest in 10 mini whiteboards. He could have invested in 20 sticky balls for English games.
Scarcity
Opportunity cost
Factors of production
Marketing
What does this describe? In a car production factory work is split into specialist teams. 1 team make the chassis, 1 team adds the engine, 1 team add the wheels and 1 team paints the car.
Price and Promotion
Factors of production and scardcity
Division of Labour and Specialsation
Organize these benefits of specialisation into the right categories
Improving quality and efficiency leads to more profit
Better reputation
Higher wages
Can choose a job with better benefits
Resources are used more efficiently
Countries can trade their expertise with other countries.
Organize these drawbacks of specialisation into the right categories
Training employees can be expensive
Product can become out of date
Machines can replace employees
Tasks may become boring
Countries can struggle to produce the product or service
Countries may get beaten on price meaning their workforce is no longer in demand.
Organize these ways of adding value into the right categories
Dyson uses "Cyclone" technology to maintain market leadership
Primark clothing store adds value by lowering their costs as much as possible.
Steve Jobs created a buzz around Apple products creating a unique brand
Being the only drinks shop at a taylor Swift concert
What am I? I take raw materials from the land or sea to be used by other businesses. E.g Oil rig
Primary Sector
Secondary Sector
Tertiary Sector
What am I? I take raw materials and turn them into products. E.g I take rubber and turn them into wheels.
Primary Sector
Secondary Sector
Tertiary Sector
What am I? I sell the finished products and services to consumers. E.g WinMart or a taxi driver.
Primary Sector
Secondary Sector
Tertiary Sector
A business that is owned and run by the government to provide products and services to the people is called what?
Private Sector
Public Limited Comany
Charity
Public Sector
Organize these benefits and drawbacks into the right categories
Compares business in the same industry
Does not show the assets a business has
Shows size in terms of space as shops take up land.
Some businesses do not need many places to sell
Shows the scale of operation because of people
measuring people does not include their skills and knowledge
Can show true worth in a market as shows what someone is willing to pay to buy the business
Can be inaccurate as people have different ideas of worth.
Benefits and drawbacks of growth
Economies of scale
More profit
Can develop more products/new products
Struggle with large orders
Communication becomes more difficult
Culture clash
choose the correct reason for business failure: A company has 100 computers worth $3000 dollars and $1000 dollars cash. They must pay a loan back by the end of the week or they will close.
Initial errors
Market
Liquidity
Lack of management
choose the correct reason for business failure: Steve's wifi promises fastest wifi in the world but after 3 months of operating people can still not connect to the wifi.
Initial errors
Market
Liquidity
Lack of management
choose the correct reason for business failure: Nicks airlines starts up in Vietnam but struggles to make sales due to how popular Vietnam Airlines and Vietjet.
Initial errors
Reputation
Liquidity
Lack of management
choose the correct reason for business failure: During covid many businesses had to close down because people could not go out and spend money.
Initial errors
Reputation
Liquidity
Economy
Organize these options into the right categories
Make all decisions, unlimited liability, keep all the profit, difficult to raise capital
More expertise, unlimited liability, can have arguments
Sells shares, raise capital, easier to keep control
Sells Shares, must release financial information, anyone can buy them out
Fill in the stakeholders ow (a) em (b) cu (c) sup (d) Gov (e)
Choose the most appropriate business objective: A new enterprise has just opened in Hoan Kiem.
Survival
Increase Employee Motivation
Selling Abroad
Increasing Market Share
Choose the most appropriate business objective: A car manufacturing company with 100 employees who have worked in the business for many years.
Survival
Increase Employee Motivation
Selling Abroad
Increasing Market Share
Choose the most appropriate business objective: Vietnamese Coffee company has 678 outlets all across all major cities in Vietnam and already has the largest market share.
Survival
Increase Employee Motivation
Selling Abroad
Increasing Market Share
Choose the most appropriate business objective: 2 smart phone companies lead the industry with no other major competitors.
Survival
Increase Employee Motivation
Selling Abroad
Increasing Market Share
Choose the most appropriate business objective: A school who every student got 0 in their end of term exams meant their reputation suffered and they lost many customers.
Improve brand image.
Increase Employee Motivation
Selling Abroad
Increasing Market Share
Tick the reasons why governments support businesses. 3 correct answers
Reduce unemployment
produce more goods and services
Receive more money from tax
More choice
happier lives
Government support: A sum of money given to a business. it does not have to be paid back.
Grants
Mentors and Advice
Training Schemes
Tax Relief
Government support: Provide information on how tax, employee rights and laws.
Grants
Mentors and Advice
Training Schemes
Tax Relief
Government support: Free or cheap courses for unskilled workers
Grants
Mentors and Advice
Training Schemes
Tax Relief
Government support: Companies sometimes don't have to give the government money if they build a factory or move their business to that country.
Grants
Mentors and Advice
Training Schemes
Tax Relief
What stakeholder am I? I want quality and value for money
Customer
Supplier
Governement
Local Community
What stakeholder am I? I want big regular orders and to be paid on time
Customer
Supplier
Governement
Local Community
What stakeholder am I? I want big you to follow the laws and to grow to keep people employed and spending money. I also want you to pay tax.
Customer
Supplier
Governement
Local Community
What stakeholder am I? I'm happy about the jobs created but I am not happy about the extra pollution and traffic in my neighborhood.
Customer
Supplier
Governement
Local Community
Organize Internal and External growth into the right categories
Business Activity
Adding more products
Entering new markets
Taking over a competitor
Merging with another business
Involves other businesses
Starting a business from home and growing into Amazon.
Disney buys Marvel Studios
Who is the best smart phone provider?
Samsung
Apple
Xiaomi
Vivo
Oppo
Who is your favourite teacher?
Ms Joan
Mr Alex
Mr Tom
Mrs Thao
Mrs Hien
