THE BIG BUSINESS QUIZ - HIGHER

How many sectors of industry are there?

• 98

• 3

• 4

• 5

Select the correct sector of industry: Consists of businesses providing information and knowledge-based services e.g. consultancy or research and development.

• Tertiary

• Secondary

• Primary

• Quaternary

Which of the following is NOT a sector of the economy?

• Private

• Secondary

• Third

• Public

Private limited companies have...

• limited liability

• unlimited liability

Answer explanation

Limited liability means the owner's personal possessions are not at risk.

A PLC is a...

• public limited company

• private limited company

A public limited company sell their shares through...

• the stock market

• friends and family

Who are private limited companies controlled by?

• An individual

• The Government

• Board of Directors

The original business is known as the...

• Franchisee

• Franchiser

Social enterprise aim to make a profit...

• True

• False

Answer explanation

They do - this is because they want the profit to benefit their specific group or cause e.g. The Big Issue aim to help homelessness in the UK through their profits.

Which of the following is NOT an objective of a private sector organisation

• Satisficing

• Managerial Objectives

• Corporate Social Responsibility

• Raise Awareness (of their cause)