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- Multiple ChoicePlease save your changes before editing any questions.
How many economic sectors are there?
0
4
3
- Multiple ChoicePlease save your changes before editing any questions.This is NOT part of the primary sector of the economyMiningForestryRetailFishing
- Multiple ChoicePlease save your changes before editing any questions.
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
- Multiple ChoicePlease save your changes before editing any questions.Fishing, Mining, Farming, and Forestry are examples of what economic activity?PrimarySecondaryTeritiaryQuaternary
- Multiple ChoicePlease save your changes before editing any questions.
Which sector does an amusement park belong in?
Primary
Secondary
Tertiary
Quaternary
Quinary
- Multiple ChoicePlease save your changes before editing any questions.What is meant by the term production?Changing raw materials into goods and serviceWhat happens on a movie setA small shop selling groceriesProducing products by recycling
- Multiple ChoicePlease save your changes before editing any questions.
What is the production chain for the diagram?
Cars
Fuel
Lorries
Motorbikes
- Multiple ChoicePlease save your changes before editing any questions.What are stakeholders?Anybody who knows the name of the businessAnybody who takes an interest in a businessAnybody who works for the businessAnybody who buys from the business
- Multiple ChoicePlease save your changes before editing any questions.Which one of the following statements about stakeholder groups is accurate?Stakeholders are people who are not interested in businessStakeholder groups have direct interest in firms decisionsShareholders of a ltd company are not a stakeholder group
- Multiple ChoicePlease save your changes before editing any questions.
What stakeholders exist within Lordswood Boys’ School ?
Teachers
Parents
Students
All of them.
- Multiple ChoicePlease save your changes before editing any questions.
Which is a feature of a partnership?
Shares can be sold to family and friends
Income tax must be paid on profit.
The owners have limited liability.
Financial information is sent to Companies House.
- Multiple ChoicePlease save your changes before editing any questions.
An owner of a sole Proprietorship is personality liable for all assets
True
False
- Multiple ChoicePlease save your changes before editing any questions.
A sole proprietorship has to share their profits with a partner
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Unlimited liability means?
The owner is personally liable to cover business debts and any costs the business can not cover
The owner(s) do not have to cover all business costs personally in the case of them being sued or going into debt
A corporation is not responsible for taking care of lawsuits
A sole Proprietorship will have enough money and coverage to pay any and all debts
- Multiple ChoicePlease save your changes before editing any questions.A Business owned by 1 PersonSole ProprietorshipPartnershipFranchiseCorporation
- Multiple ChoicePlease save your changes before editing any questions.A Business owned by two or more peopleSole ProprietorshipPartnershipFranchiseNon-Profit Organization
- Multiple ChoicePlease save your changes before editing any questions.A contract between a parent company and a franchisee to use the name and see the goods or services of the parent company.FranchiseCorporationNon-Profit OrganizationPartnership
- Multiple ChoicePlease save your changes before editing any questions.
Who is responsible for the business debt?
Franchisor
Franchise
The Franchisee
Investor
- Multiple ChoicePlease save your changes before editing any questions.
What's a franchisee?
A franchisee is the initial fee paid to the company
A franchisee is a company that owns the service and grants rights to another business.
A franchisee is formed when the franchisee buys a business.
A franchisee is the person buying the right to run a business.
- Multiple ChoicePlease save your changes before editing any questions.The company that owns the product or service and grants the rights is ___________.FranchiseeFranchiserFranchise