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Revision

Authored by Lois Slater

Other

12th Grade

Used 6+ times

Revision
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25 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A sector that is involved in making things e.g. car manufacturing, is known as what?

Primary sector

Tertiary sector

Quaternary sector

Secondary sector

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

This objective is for the business to continue to trade over a defined period of time, rather than to submit to some form of commercial pressure and be forced to cease trading.

Profit maximisation

Social

Survival

Cash flow

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

This is where a firm produces an increased range of unrelated goods and services.

Diversification

Social

Profit maximisation

Cash flow

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

To calculate sales revenue = .................... x quantity

Total variable costs

Total costs

Profit

Price

5.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

.................... costs are those that do not change e.g. rent.

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Organisations owned and/or financed by central and local government.

Public sector

Private sector

Public limited company

Private limited company

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

This is a company were the owner is personally responsible for it's debts (unlimited liability). It is owned and run by one person.

Public limited company

Private limited company

Sole trader

Private sector

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