Check In Quiz - Unit 1

How many Factors of Production are there?

• 2

• 3

• 4

• 5

What are the Sectors of Industry?

• Private, Public, Third

• Primary, Secondary, Tertiary, Quaternary

• Primary, Secondary, Third

• Private, Public, Tertiary, Quaternary

A car manufacturer belongs to which Sector of Industry?

• Primary

• Secondary

• Tertiary

• Quaternary

A hotel belong in which Sector of Industry?

• Primary

• Secondary

• Tertiary

• Quaternary

"Adding value to a product as it moves along a production line" is called what?

• Adding Value

• Gaining profit

• A franchise

• Wealth Creation

How many Sectors of Economy are there?

• 2

• 3

• 6

• 4

The Private Sector is made up of businesses which aim to...?

• Raise funds

• Raise awareness

• Make use of taxpayers money

• Make profit

Private and Public Limited Companies are owned by whom?

• Stakeholders

• Shareholders

• The Government

• Volunteers

Shareholders have limited liability in an LTD.

• True

• False

Identify a disadvantage of being an LTD.

• Ownership is lost to outsiders

• Unlimited Liability

• Profits have to be split with all shareholders

• Limited Liability