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A Level Business Studies - Classification of Business Sectors

Most attention is aimed at 2, 4 and some 6 mark style questions, with a couple of stretching 10 mark questions included too.

Longer 14 and 18 mark questions are not included here.  

1.      Explain the difference between a "franchisor" and a "franchisee" (4 marks)

2.      Outline two advantages and two disadvantages of setting up a new business to run a franchise (4 marks)

3.      Define the term “sole trader” (2 marks)

5.      Explain why there are so many sole trader businesses in the UK (4 marks)

6.      List two advantages and two disadvantages of setting up in business as a partnership (4 marks)

7.      Who owns a partnership? (2 marks)

8.      What is the difference between “unlimited liability” and “limited liability” (4 marks)

9.      Define the term “shareholder” (2 marks)

10.  List three examples of “not-for-profit” businesses (3 marks)

11.  Define the term “public sector” (2 marks)

12.  State, with an example of a business in each, the three main sectors of the UK economy (6 marks)

13.  Give an example of how a business could operate in both the primary and secondary sectors (4 marks)

14.  Define the term “private sector” (2 marks)

15.  Explain one reason why public sector organisations might have different objectives as compared to others in the private sector (4 marks)

16.  Define the term “diseconomies of scale” (2 marks).