F291 Types of Business and more Quiz

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What is an example of the primary sector?
Farming
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What does business in the secondary sector do?
Manufacture
2 of 20
Give an example of the tertiary sector
Tesco's
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What is the tertiary sector
Where goods are sold
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What do businesses in the private sector do?
Make a profit
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What do businesses in the public sector do?
Provide a service
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Who are businesses in the public sector owned by?
Government
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Private sector businesses provide a service where at delivery point is usually free, e.g NHS
False - Public Sector businesses do this
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Give an example of a public sector organisation
NHS
9 of 20
What is a stakeholder?
An individual, or group who is affected and/or interested by the actions of a business
10 of 20
Why does conflict arise between stakeholders?
Each stakeholder has their own different objectives for what they want the business to achieve
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Give two reasons why being a stakeholder is beneficial
Values of shares can increase and be sold on for more and they grant owners voting rights to have an opinion and input
12 of 20
What must be listed after a Private Limited Companies name
LTD
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What is an advantage of running a Private LTD?
Maintain close control over running the business as shares are not easily accessible
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What must be listed after Public Ltd company?
PLC
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How much is needed to start up a Public Ltd?
£50,000
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What is an advantage of running a Public Ltd Co?
More attractive credit facilities making it easier to obtain finance
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Give two differences between PLC and LTD ...
PLC can raise more capital and obtain finance easily, e.g from shares. LTD do not have to provide detailed accounts like PLC
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Give 2 examples of internal stakeholders
Managers and employees
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Give 2 examples of external stakeholders
Local community and Shareholders
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Other cards in this set

Card 2

Front

What does business in the secondary sector do?

Back

Manufacture

Card 3

Front

Give an example of the tertiary sector

Back

Preview of the front of card 3

Card 4

Front

What is the tertiary sector

Back

Preview of the front of card 4

Card 5

Front

What do businesses in the private sector do?

Back

Preview of the front of card 5
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