Year 10 Business Studies Quiz

What is the main aim of a private sector business?

• Provide public services

• Maximise profit

• Reduce taxes

• Support government

What does ‘limited liability’ mean?

• The business can’t go into debt

• The owner is responsible for all debts

• The owner’s personal assets are protected

• The business pays no tax

Identify 3 key business terms that apply to this scenario.

Explain how each term relates to the case study.

What risks might Sami face when expanding?

Explain two advantages of operating as a partnership.

Discuss the impact of inflation on a small business.

Define ‘business objective’.

Give an example of a stakeholder.

What is meant by ‘added value’?