Name: Score:

5 True/False questions

Definition Term 1 of 20

The physical and tangible Consumer Goods

goods sold to the general
public. They include cars and
washing machines, which are
referred to as durable
consumer goods. Non-durable
consumer goods include food,
drinks and sweets that can only
be used once

True

False
Definition Term 2 of 20

Non-tangible products that are Consumer Services

sold to the general public and
include hotel accommodation,
insurance services and train
journeys

True

False

Definition Term 3 of 20

Natural resources that can be Land

found on the planet. This
includes renewable and non-
renewable natural resources
such as water, wood, fish and
physical land itself

True

False
 Definition Term 4 of 20

Land, Labour, Capital and Factors of Production

Enterprise

True

False

Definition Term 5 of 20
The process of determining Human Resource Management
human resource needs and
then recruiting, selecting,
developing, motivating,
evaluating, compensating, and
scheduling employees to
achieve organisational
objectives

True

False

5 Multiple choice questions

Definition 6 of 20
Firms that manufacture and process products from natural resources, including
computers, brewing, baking, clothing and construction

Consumer Goods

Tertiary Sector

Marketing

Secondary Sector

Definition 7 of 20
Risk taking individuals who combine the other factors of production into a unit
that is capable of producing goods and services. It provides a managing,
decision-making and coordinating role

Businesses

Consumer Goods

Enterprise

Business Plan
 Definition 8 of 20
A general decline of secondary sector activity and an increase in tertiary
sector

Deindustrialization

Business Plan

Intrapreneur

Capital

Definition 9 of 20
-Identifying a market opportunity
-Sourcing capital
-Location
-Buildding a customer base

What are the roles of entrepreneurs?

What are the 5 problems in start ups?

What is the importance of business plans?

What are the 4 steps of starting a business?

Definition 10 of 20
-Obtain finance for start-up from investors
-Planning process is important
-Helps forecasts: can be used as target to aim for

What are the 5 problems in start ups?

What is the impact of enterprise on business activity?

What is the importance of business plans?

What are the roles of entrepreneurs?

5 Matching questions
:
 Physical goods that are used by an industry 11-15 of 20
A. Capital Goods
to aid in the production of other goods and
B. Industrializatio
services, such as machines and commercial
n
vehicles
C. Business
Activity

D. Operations
Management

E. Marketing

The commercial processes involved in

creating and designing, promoting and
selling and distributing a product or service

The process experienced by a country that

moves away from primary production
towards manufacturing as its principal
sector for national output and employment
:
 The management of processes used to
design, supply, produce, and deliver goods
and services to customers

Uses the scarce resources of our planet to

produce goods and services that allow us
to enjoy a much higher standard of living

5 Written questions

Definition 16 of 20
-Creat Jobs
- Economic growth
-Firms' survival and growth
-Innovation and Technological change
-Increase in Gross Domestic Product (GDP)

Definition 17 of 20
A written document that describes a business, its objectives and its strategies,
the market it is in and its financial forecasts
:
 Definition 18 of 20
The management of money and credit and banking and investments

Definition 19 of 20
The finance needed to set up a business and pay for its continued operations
or expansion. Also includes the man-made goods used in the production
process (capital goods)
:
 Definition 20 of 20
Resources needed by businesses to produce goods or services
: