1st Term Test 2019/2020

SRI LANKAN SCHOOL MUSCAT

CLASSES 7B/G/R
SUBJECT Business Studies
PAPER First Term Test
DURATION
37 Minutes
Q.No Marks
Allocated Obtained

01 06
% Grade
02 10
03 10
04 07

Candidate Name
Index Number

Total
INSTRUCTIONS TO CANDIDATES
…………
Answer all questions in the space provided

Paper is set by – Pavithra Liyanaarachchi

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Answer all the questions

Question 01 - Underline The Correct Answer

(06 Marks)

1) Which of the following is not a good?

a) Stationary
b) Electronic devices
c) Machinery
d) Cleaning

2) Which of the following is not a basic need?

a) Air
b) Food
c) Juice
d) Shelter

3) Which of the following is a basic good in health care sector?

a) Wound dressing
b) Body check ups
c) Medicinal tablets
d) Surgery

4) Which of the following is not a form of a want in need for breathing air?
a) Oxygen tanks
b) Carbon dioxide
c) Airline breathing apparatus
d) Oxygen in air

5) Which of the following is not an example of one of the forms of money?

a) Sales report
b) Cheques
c) Cash at bank
d) Cash in hand

6) Which of the following is not a main function of a business?

a) Storage
b) Production
c) Marketing
d) Finance

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Question 02 - Provide Short Answers
(10 Marks)

1) Define what a “Service” is by providing an example. (02 Marks).

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2) Define what a “Want” is by providing an example. (02 Marks).

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3) Define who is a “stakeholder” by providing an example.(02 Marks).

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4) Define what a “Business” is by providing an example. (02 Marks).

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5) Define what “Finance” is by providing an example.(02 Marks).

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Question 03 - Provide Short Answers
(10 Marks)

1) Complete the following table. (08 Marks).

Organization 2 Goods 2 Services 2 Stakeholders 2 Stakeholder Interests

Apple

2) Explain in brief why human resource is an important factor in business. (02 Marks).
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Question 04 - Case Study

(07 Marks)

Stephanie received $500 from her grandparents for her high school graduation. She’s been longing to buy a
new watch and update her wardrobe because she’s starting a new job in two weeks, but next month she’s
moving out on her own and will need to pay three months rent in advance, which totals $1,500. If she uses
the money to buy the watch and clothes, she thinks she can save enough money from her new job to pay
for rent, but she’s not sure.

1) What are Stephanie’s needs? (02 Marks).

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2) What are Stephanie’s wants? (02 Marks).

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3) What do you think Stephanie should do? Explain your answer in brief. (03 Marks).
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The End
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