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Worksheetsuntitled
Total questions: 45
Worksheet time: 23mins
Which Sector of the Business is Furniture Manufacturer?
Primary sector
Secondary sector
Tertiary sector
none
Advertising Agency
Tertiary sector
Primary sector
Secondary sector
Canning Factory
Primary sector
Secondary sector
Tertiary Sector
Oyster gathering business
Secondary sector
Tertiary sector
Primary sector
Forestry
Primary sector
Secondary sector
Tertiary sector
Mining Company
Tertiary sector
Primary sector
Secondary sector
airlines
Primary sector
Secondary sector
Tertiary sector
Second hand Furniture Shop
Primary sector
Tertiary sector
Secondary sector
Newspaper
Primary sector
Secondary sector
Tertiary sector
Building Company
Primary sector
Secondary sector
Tertiary sector
Newspaper delivery business
Primary sector
Tecondary sector
Tertiary sector
Fishing
Secondary sector
Primary sector
Tertiary sector
Construction
Primary sector
Secondary sector
Tertiary sector
shops
Primary sector
Secondary sector
Tertiary sector
banks
Primary sector
Secondary sector
Tertiary sector
- What is a type of economy that has both private sector and public sector?
(a)
What is the part of the economy that is controlled by the state or government?
(a)
(a) is the production and supply of goods to the final consumer involving activities from primary, secondary and tertiary sector businesses.
(a) is a sector that involves firms that supply a service to consumers and other businesses.
Give an example of businesses within the primary sector.
(a)
(a) is defined by the resources, riches and wealth of a country.
(a) involves business activities that take the natural resources produced by primary sector activity and turns these raw materials into finished goods.
Sole traders, partnerships, limited companies, franchises, joint ventures and social enterprises are types of businesses in the (a) sector.
Give an example of a public sector business in Thailand.
(a)
A (a) country has high standards of healthcare.
Which of the following describes a business with a local geographical spread?
It operates in multiple countries.
It primarily serves customers in a specific suburb or town.
It has locations in every state of Australia.
It sells products online only.
A company that operates in several countries, adapting its products to suit local tastes, would be classified as:
A domestic business.
A global business.
An international business.
A national business.
Which industry sector is primarily involved in the extraction of natural resources?
Quaternary
Secondary
Primary
Tertiary
Manufacturing falls under which industry sector?
Primary
Secondary
Tertiary
Quinary
Providing legal advice is an example of a business operating in the:
Primary sector.
Secondary sector.
Tertiary sector.
Quaternary sector.
Research and development are characteristic of which industry sector?
Primary
Secondary
Tertiary
Quaternary
Which industry sector focuses on providing domestic services?
Quaternary
Quinary
Primary
Secondary
Which of the following legal structures gives the owner(s) the most control?
Private company
Partnership
Sole trader
Public company
In which legal structure are the owners personally liable for the debts of the business?
Public company
Sole trader
Private company
Government enterprise
Which legal structure is owned by shareholders?
Partnership
Sole Trader
Company
Trust
Which of the following is a key disadvantage of a partnership?
Limited liability
More complex to establish than a sole trader.
Potential for disagreements between partners.
Unlimited capital
A private company in Australia is indicated by which abbreviation after its name?
Ltd
Pty Ltd
Inc.
Corp.
Which legal structure typically has the most complex reporting requirements?
Sole trader
Partnership
Public company
Private company
What is a major advantage of a public company in terms of finance?
Easier to obtain loans.
Ability to raise capital through the sale of shares.
No need for annual reports.
Less government regulation.
A business that operates in a small number of countries is best described as:
Global
National
International
Local
Which of the following is NOT a characteristic of a sole trader?
Simple to set up
Unlimited liability
Owner receives all profits
Limited access to capital
What is a key advantage of forming a company (Pty Ltd or Ltd) over a sole proprietorship?
Simpler tax requirements
Limited liability
Less government regulation
Complete control over business decisions
Which sector includes businesses involved in transportation and retail?
Primary
Secondary
Tertiary
Quaternary
A business that sources raw materials from overseas and sells finished goods domestically is considered:
A local business
A national business
An international business
A global business
Which of the following is an advantage of a partnership over a sole trader?
Simpler to establish
Access to more capital
Complete control for the owner
Less potential for conflict
