8/19/2019 Revision Worksheet Ut-1 (10)

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REVISION WORKSHEET UT-1 SEM1

TOPIC: UNDERSTANDING BUSINESS ACTIVITY 

1.Defne the oo!"n# te$%&:

a) Business activityb) Economic problemsc)Opportunity costd) Revenuee) Start up capital

f) Collateralg) Objective) CSRi) Sta!eolders

8/19/2019 Revision Worksheet Ut-1 (10)

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".#at do you mean by factors of production$

E%plain giving an e%ample of eac.&.#at do you mean by 'rimary sector$ State one

importance of tis sector.(.#o is an entrepreneur$ #at are te ualities

of a successful entrepreneur$*.#o is a sole trader$ #at are te bene+ts and

disadvantages of sole proprietorsip$,.-ierentiate bet/een 'rivate limited company

and 'ublic limited company.

0.#at are te various business objectives$.#y some business gro/ and oters remain

small$ j)