AQA GCSE Business Topic 1: Business in the Real World

1. What are goods?

• A) Intangible activities provided to consumers

• B) Physical items produced and sold to consumers

• C) Resources used to start a business

• D) Money invested in a company

2. A customer is someone who:

• A) Manufactures goods

• B) Sells goods to others

• C) Buys goods or services

• D) Delivers packages

3. 3. Which of the following is not a factor of production (FoP)?

• A) Government

• B) Labour

• C) Capital

• D) Land

4. 4. Land as a factor of production refers to:

• A) All natural resources used in production

• B) Buildings and offices

• C) People who work in a business

• D) The money invested

5. 5. An enterprise is:

• A) The land used by a business

• B) A type of capital

• C) The organisation and risk-taking involved in starting a business

• D) The product sold

6. 6. What is meant by opportunity cost?

• A) The total money spent on a product

• B) The value of the next best alternative given up

• C) The financial gain from a decision

• D) The number of opportunities available

7. 7. The tertiary industry includes:

• A) Making products in a factory

• B) Services like retail and education

• C) Growing crops

• D) Mining

8. 8. Interdependency in business means:

• A) Relying on each other in a production process

• B) Businesses working independently

• C) Reducing employment

• D) Providing only goods

9. 9. Deindustrialisation is the process of:

• A) Increasing the number of manufacturing jobs

• B) Moving production overseas

• C) Reducing the importance of the secondary sector

• D) Investing in factories

1. 10. The business environment refers to:

• A) The factory's physical condition

• B) Only the economy

• C) All external factors that affect a business

• D) Office layout