Business Studies Revision - Year 10 Terms 1 & 2

Question 1

What is a company said to add when it changes raw ingredients into the finished product?

Accepted Answer

Value

Question 2

Which is not a recognised sector of the economy?

Accepted Answer

Industry

Question 3

A firm whose business involved extraction of natural resources is:

Accepted Answer

Primary

Question 4

Which of these are NOT factors of production?

Accepted Answer

Transport

Question 5

Kamran's Roti Stall is owned and run by Kamran and employs three others. He is a:

Accepted Answer

Sole Trader

Question 6

Owners, Shareholders, Managers and Employees are:

Accepted Answer

Internal Stakeholders

Question 7

A firm that processes and manufactures goods from natural resources is:

Accepted Answer

Secondary

Question 8

Market Share, Number of Employees and Value of Output - all ways of measuring what?

Accepted Answer

Business Size

Question 9

Which of these is not said to be a characteristic of entrepreneurs?

Accepted Answer

Arrogance

Question 10

Hilton, McDonalds, Burger King, Subway are all types of:

Accepted Answer

Franchise

Question 11

What is specialisation?

Accepted Answer

Both of the above

Question 12

When production is divided into separate tasks and each employee does just one, this is called:

Accepted Answer

Division of Labour

Question 13

Which of these are non-financial rewards used as motivational methods:

Accepted Answer

Job dissatisfaction

Question 14

An Opportunity Cost is the next best thing that you give up in order to make a decision

Accepted Answer

True

Question 15

An example of conglomerate integration is:

Accepted Answer

Coca-Cola taking over BMW

Question 16

Firms that supply services to other firms and business is:

Accepted Answer

Tertiary

Question 17

The economy of Malaysia is:

Accepted Answer

Mixed

Question 18

Which of these is the highest level of Maslow's Hierarchy of Needs

Accepted Answer

Self-actualisation

Question 19

Public sector companies often have which type of objectives?

Accepted Answer

Social Objectives

Question 20

A company taking over a company in the same industry but further down the chain of production =

Accepted Answer

Backward Vertical Integration

Questions 20