Business Fundamentals

Look at the graph and label it.

b

a

c

d

e

Break-even point

Fixed costs

Total costs

Variable costs

Revenue

Organize these business activities into the right sectors.

Groups:

(a) Primary sector

,

(b) Secondary sector

,

(c) Tertiary sector

• Communication

• Construction

• Agriculture

• Utilities (electricity, gas etc)

• Fishing

• Manufacturing

• Forestry

• Finance

• Mining

• Civil engineering

• Transport

• Retail

The ... of a product or service is a particular feature of it which can be used in advertising to show how it is different from, and better than, other similar products or services.

• B2B

• USP

• B2C

• CEO

Match the words to make collocations.

• competition

• develop

• a market

• provide

• value

• face

• a supplier

• add

• services

• buy from

A joint venture between a local entrepreneur and a well-established business is called ...

A ​ (a)   is an organisation that is owned by shareholders, and managed by directors. Its members can purchase stock, and most pay out dividends once or twice a year. A ​ (b)   does not publically trade shares and is limited to a maximum of fifty shareholders.

• public limited company (PLC)
• private limited company (Ltd)

Match the companies with their types.

• Sole trader

• 
• Franchise

• 
• Partnership

• 
• Plc

• 
• Ltd

• 

Match the departments with their responsibilities.

• pays salaries

• R&D

• invents new products

• Payroll

• contacts customers

• Training

• organizes logistics

• Supply Chain

• helps employees develop new skills

• Sales

... is an amount of money that you have to pay to the government so that it can pay for public services.

• margin

• cost

• profit

• tax

​ (a)   costs change based on the amount of output produced. ​ They may include labor, commissions, and raw materials. ​ (b)   costs remain the same regardless of production output.

• Variable
• Fixed