WorksheetsYear 9 Business Studies Assessment
Total questions: 18
Worksheet time: 50mins
GDP stands for:
Gross Domestic Product
General Domestic Profit
Government Development Plan
Global Demand Policy
Which sector involves producing raw materials?
Primary
Secondary
Tertiary
Quaternary
Which sector does healthcare belong to?
Primary
Secondary
Tertiary
Quaternary
What type of liability does a sole trader have?
Limited
Unlimited
Shared
Corporate
What legal document is required to set up a Partnership?
Certificate of Incorporation
Deed of Partnership
Tax Return
Articles of Association
A Private Limited Company (Ltd) can sell shares to:
The general public
Friends and family
Stock exchange
Anyone in the UK
A Public Limited Company (PLC) can raise large amounts of capital by:
Selling shares to the public
Taking bank loans
Borrowing from family
Selling only to friends
What is meant by 'recession'?
A long-term growth in GDP
A decline in GDP for two consecutive quarters
An increase in consumer spending
When exports increase rapidly
Which of the following is a disadvantage of a sole trader?
Keeps all profits
Full control
Unlimited liability
Easy to set up
In which region is Swindon located?
South-East
South-West
North-East
Midlands
Define the term 'Economy'.
Define the term 'Bankruptcy'.
State one difference between incorporated and unincorporated businesses.
Explain one benefit of operating as a Sole Trader.
Explain one drawback of operating as a Partnership.
Identify one sector that is strong in Swindon and explain why it benefits the local economy.
Explain one challenge Swindon might face as its economy shifts from secondary to tertiary/quaternary sectors.
Discuss whether operating as a Partnership is better than a Sole Trader for new entrepreneurs. In your answer, consider both advantages and disadvantages.
