Business Terminology Quiz

An individual who takes the financial risk of starting and managing a new business.

• Sole Trader

• Entrepreneur

• Customer

• Supplier

Payment to employees based on a fixed amount for each hour worked.

• Piece Rate

• Overtime

• Hourly Wage Rate

• Retained Profit

Organisations of like-minded people who put pressure on businesses and the government to change their policies to reach a predetermined objective.

• Recruitment Agency

• Pressure Group

• Retailer

• Sole Trader

To bring in merchandise, commodities, workers, etc., from a foreign country for use, sale, processing, re-export, or services.

• Quota

• Revenue

• Import

• Recession

A business that finds employees for other businesses.

• Recruitment Agency

• Retailer

• Supplier

• Entrepreneur

Profit remaining after all expenses, tax, and dividends have been paid, which is then ploughed back into the business.

• Retained Profit

• Revenue

• Unique Selling Point (USP)

• Sole Trader

A physical limit on the quantity of goods that can be imported and exported.

• Quota

• Recession

• Import

• Hire Purchase

The amount a business earns from the sale of its products.

• Productivity

• Revenue

• Bank Loan

• Retained Profit

A business that is owned and controlled by just one person who takes all the risks and receives all the profits.

• Supplier

• Entrepreneur

• Sole Trader

• Customer

The purchase of an asset by paying fixed repayment amounts per time period over an agreed period of time. The asset is owned by the purchasing company on completion of the final repayment.

• Bank Loan

• Hire Purchase

• Revenue

• Retained Profit