Business Revision

Which type of private sector business is owned and controlled by one person?

• Partnership

• Private limited company

• Sole trader

Which type of private sector business has limited liability?

• Partnership

• Private limited company

• Sole trader

Non-durable goods are goods that can only be used once or that only last for a short period of time.

• True

• False

Which objective was McDonald's aiming for when they replaced plastic drinking straws with paper ones?

• Survival

• Sales maximisation

• Corporate social responsibility

Which of the following is not an example of an after-sales service?

• Extended warranty

• Clean and tidy store

• Customer helpline

• Refunding of goods

Which external factor is people having more leisure time nowadays.

• Political

• Economic

• Social

• Technological

• Environmental

Value for money and to be treated well by the business are the interests of which stakeholder?

• Bank

• Local community

• Supplier

• Customer

Increasing the cost of materials or changing the lead time for delivering goods are the influences of which stakeholder?

• Employee

• Local community

• Supplier

• Bank

What is the name given to the group of factors that a business should consider when choosing a supplier?

• Purchasing factors

• Suppplier factors

• Purchasing mix

• Supplier mix

Holding too much inventory is likely to deter staff from stealing from the business.

• True

• False