Understanding Business Activity

Choose an example of a secondary sector business

• Restaurants

• Mining

• House building

• Farming

What does a business plan entail? Give any one example.

A Baker selling to a local grocery store.

The above sentence is an example of what type of integration?

• Backward vertical integration

• Forward vertical integration

• Conglomerate Integration

• Horizontal integration

A car dealership is which form of a business organisation?

• Franchise

• Joint venture

• Sole trader

• Public limited company

Select a feature of a Sole Trader

• Easy to set up a business

• Owner keeps all the profit

• decide when and how many hours to work

• Have greater access to finance

Which one of these is an external stakeholder?

• Lenders

• Managers

• Employees

• Shareholders

To benefit from an increase in share value.

The above statement implies to which stakeholder group?

• Government

• Employees

• Suppliers

• Owners/Shareholders

What does M stand for in 'SMART' objectives?

• Marketing

• Measurable

• Managable

• Merchandise

Choose the correct way of measuring a business?

• Market research

• Social media presence

• Capital employed

• Internal growth

Why do some businesses remain small?

• Access and Availability

• Unlimited liability

• As they like working longer hours