Business Studies Revision - Year 10 Terms 1 & 2

Question 1

Which of these is NOT a factor of production?

Accepted Answer

Transport

Question 2

A company taking over a company in the same industry but at an earlier stage of production =

Accepted Answer

Backward Vertical Integration

Question 3

Owners, Shareholders, Managers and Employees are:

Accepted Answer

Internal Stakeholders

Question 4

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

Accepted Answer

Job rotation, Job enlargement, Job enrichment

Question 5

Which is not a recognised sector of the economy?

Accepted Answer

Industry

Question 6

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

Accepted Answer

True

Question 7

In the UK the government provides some services and firms provide others so the economy is:

Accepted Answer

Mixed

Question 8

Public sector companies often have which type of objectives?

Accepted Answer

Social Objectives

Question 9

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

Accepted Answer

Division of Labour

Question 10

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

Accepted Answer

Arrogance

Question 11

Emma's Fashion Stall is owned and run by Emma and employs three others. She is a:

Accepted Answer

Sole Trader

Question 12

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

Accepted Answer

Franchise

Question 13

Firms that supply services to other firms and business is:

Accepted Answer

Tertiary

Question 14

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

Accepted Answer

Value

Question 15

An example of conglomerate integration is:

Accepted Answer

Coca-Cola taking over BMW

Question 16

A firm whose business involved extraction of natural resources is:

Accepted Answer

Primary

Question 17

What is specialisation?

Accepted Answer

Both of the above

Question 18

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

Accepted Answer

Self-actualisation

Question 19

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

Accepted Answer

Business Size

Question 20

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

Accepted Answer

Secondary

Questions 20