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Grade 9 IGCSE Test 2 Review Flashcards | StudBud
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Grade 9 IGCSE Test 2 Review
Grade 9 IGCSE Test 2 Review
66 terms
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StudBud Administration
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180 plays
Units 1-5
Flashcards
66 cards
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Practice quiz
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Host live
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Questions
66
Answers
1
Is added value not important?
Yes
No
2
What is an unincorporated business?
A business owned by one person
A business that has separate legal status from its owners
A business that doesn't have a separate legal identity
A business owned by the government
3
Which part of the Herzberg theory is a requirement?
Hygiene factors
Motivating factors
4
What’s meant by unlimited liability?
None of the above
Shareholders must pay back the businesses debts
The owners of the biz are responsible for all of its debts
5
___________ motivation includes free accommodation.
Non-financial
Financial
Non-conformist
Job satisfaction
6
What is an example of vertical merger?
Facebook & Google
Highland & Nescafe
Ford & Dunlap
Lipton India & Brooke Bond Tea
7
What is a disadvantage of joint venture?
Disagreements over important decisions
All of the above
Different ways of running a business
Profits have to be shared
8
What objectives do businesses not set? 2 answers
Staff
Profit
Capital
Growth
9
Which one is a characteristic of a successful entrepreneur?
Lazy
Optimistic
None of the above
Shy
10
What does a company do with it's profits?
Give it to the shareholders
Bribe the government
Pay the Russian gangsters
Make it rain
11
Companies are usually referred as?
Partnership
All of the above
Private or Public limited
Sole Trader
12
Advantages of partnership?
The person can own a business by him/herself
The other partnership cannot cheat because of the agreement
13
Does a sole trader have limited liability?
Yes
No
14
What are two ways to increase returns to shareholders?
Increase income & salary
Increase share price & profit
Increase share price & income
Increase profit & salary
15
Stakeholder groups outside of a business include:
Owners
Banks
Managers
Employees
16
What’s meant by shareholders?
People that are affected by a business' decisions
People who don't buy shares
The owners of a company that buy shares
Owner of a company
17
What’s a partnership?
Group of two or more people agrees to own and run a business
A business owned by a government
A business owned by one person
All of the above
18
What are the benefits of integration?
Risks are spread & cost of supplies aren’t reduced
Sure places to sell the products & fewer competitors
Easy to contact with the manufacturers
More competitors & the profit margin is bigger
19
Why do some businesses want to grow?
To get lower market share
To get more risk
To add more job security
All of the above
20
Why do business objectives change?
Because they want to look cool
To earn higher returns for their shareholders
To gain less marketshare
After making profit, they want to survive
21
Which is not an objective of a public sector businesses?
Service
Growth
Society
Finance
22
What is not a reason that owners want businesses growth?
Higher profits
More work
More brand recognition
More market share
23
What’s a sole trader?
A business owned by more than 2 people
A business owned by another company
A business owned by one person
A business owned and controlled by one person
24
If the environment is polluted, which stakeholder group is the angriest?
Local community
Government
Shareholders
Employees
25
What is stock/share?
A person who organizes or takes risks of a business
A person who owns a company
A percent of a company sold to a person
A person who buys shares of a company
26
What's an example of an unincorporated business?
Franchise
Sole Trader
LTD
PLC
27
What’s a joint venture?
None of the above
2 business agree to work together to start a new project
When 2 sole traders disagree to work together
28
What is a conglomerate merger?
A biz merges with one at the same stage of production
When a biz merge or takes over one in a different industry
When a biz merge or takes over one in the same industry
A biz merges with one at a different stage of production
29
What are the factors of production?
Scarcity, Land, Enterprise, Capital
Labour, Capital, People, Resource
Land, Enterprise, Capital, Labour
Land, Capital, Enterprise, People
30
What does the local community aim for?
Employment
Pollution
Increasing GDP
Goods and services
31
What is the limitation of comparing the size of business using number of employees?
A. They sell different products
B. They have few people but produce high output levels
B & C
C. Have many employees
32
Disadvantages of private limited companies?
Can’t sell shares to public
Limited liability
Separate legal identity
33
Why do companies set objectives?
To show if the business is successful or not
To show if the staff should leave the company or not
To dream about
To show if the business is dead or not
34
People have
All of the above
Unlimited wants
Limited wants
Bodies
35
What is a want?
A good or service which people would like to have
A good or service essential for living.
36
What are the advantages of being a sole trader?
Limited liability
Ease of getting a loan
All of the above
Full control
37
What is the real cause of the economic problem?
Unlimited wants + Limited resource
Extreme wants + Unlimited resource
Scarcity
Limited wants + Limited resource
38
What is most likely to be the managers objective?
Business growth
Status and power
Larger share of the profits
Business liquidity
39
What is a need?
A good or service which people would like to have.
A good or service essential for living.
40
Fewer competitors in the industry is a benefit of which integration?
Forward Vertical
Backwards Vertical
Horizontal
Conglomerate
41
In _________ partnerships, if one owner dies, the business still exists.
Forever
Limited
Unlimited
Happy
42
What is not a disadvantage of public limited company?
Can only sell share to people involved in the business
More regulations and control from the government
Become very large and difficult to manage
Selling shares to the public is expensive
43
What is the not an advantage to the franchisee?
All supplies are obtained from the franchisor
The franchisor pay for advertising
Training is provided by the franchisor
Unable to make decisions
44
Whats a social enterprise's goal ?
All of the above
To help people socially
To protect the environment
Aim to get profit to reinvest back to the business
45
How could a business increase added value?
Reduce the selling price and reduce the cost of materials
Increase selling price & keep the cost of materials the same
Increase both selling price and the cost of materials
Reduce the cost of materials and the price
46
Motivation can lead to
More efficient machines
lower morale
lower quality products
more effective workers
47
What’s a franchisee?
None of the above
The business itself
The person who owns the business
The person who opens a new location of a business
48
Some businesses fail because of poor management
No
Yes
49
A pension is
a reward for doing a good job
money saved for when you retire
a form of free education
money to use when you are traveling for work
50
Which of these is/are for both sole trader and partnership?
A. Unlimited liability
A, B & C
C. No sharing profits
B. Continuity
51
Lack of capital is the only disadvantage to entrepreneurs.
False
True
52
Who wrote the theory of scientific management?
Maslow
Cheeezburg
Herzburg
Taylor
53
Why is added value important?
It makes the customers more valuable
A. Can pay other costs
B. May be able to make a profit
Both A and B
54
What are business objectives?
Aiming and targeting something to work towards
Owner’s life is tough, trying to make it better
Trying to get money
Get on top of the economy and be dominant in the market
55
How many types of external growth are there?
4
5
6
3
56
What is an advantage of increasing marketshare?
They can make the price lower
To make the business grow
Increase influence
Worse publicity
57
What do employees aim for?
Good quality products
The managers
Job security and good income
The bank
58
Is Starbucks a franchise?
Yes
No
59
___________ doesn’t have unlimited liability.
Unincorporated Businesses
Private Limited Company
Sole Trader
Partnership
60
How many forms of business organisation are in the private sector?
4
5
7
6
61
What is scarcity?
The lack of products to fulfill the total wants of people
The difference between selling price and cost of materials
The production process is split up
The next best alternative given up by choosing another item
62
What’s a dividend?
Payment for managers
Payment made to shareholders from the profits
Payment for customers
63
What is specialisation?
When people concentrate on what they're best at.
When people are unconcentrated on what they're best at.
When people are non-concentrated on what they're best at.
When people concentate on what they're best at.
64
What is the purpose of division of labour?
C. To have more fun
A. To work faster
B. To concentrate on what each worker is best at
A & B
65
Will you pass the exam?
Yes!!
No :(
I hope so
I'm hungry
66
Which motivational theory includes a pyramid?
Herzberg
Marshmellow
Maslow
Taylor
