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Business Studies (Preliminary) Questions
and Correct Answers/ Latest Update /
Already Graded
Role of a Business
Ans: Profit, Employment, Income, Choice, Innovation,
Entrepreneurship and Risk, Wealth, Quality of Life
Size
Ans: Micro, Small, Medium, Large
Reach
Ans: Local, National, Global
Industry
Ans: Primary, Secondary, Tertiary, Quaternary, Quinary
Legal Structure
Ans: Sole Trader, Partnership, Public, Private, Government
Organisation
All rights reserved © 2025/ 2026 |
, Page |2
Factors Influencing Legal Structure
Ans: Size, Ownership, Finance
External Influences
Ans: Economical, Financial, Geographical, Social, Legal,
Polictical, Institutional, Technological, Competitive Situation,
Markets
Internal Influences
Ans: Products, Location, Resources, Management, Business
Culture
Stages of Business Life
Ans: Establishment, Growth, Maturity, Post-Maturity
Factors that can lead to Business Decline
Ans: Global Competition, Lack of Funds, Overdependence on a
single customer, Poor management, Poor employees, Poor
location, Natural disasters
Cessation
All rights reserved © 2025/ 2026 |
Business Studies (Preliminary) Questions
and Correct Answers/ Latest Update /
Already Graded
Role of a Business
Ans: Profit, Employment, Income, Choice, Innovation,
Entrepreneurship and Risk, Wealth, Quality of Life
Size
Ans: Micro, Small, Medium, Large
Reach
Ans: Local, National, Global
Industry
Ans: Primary, Secondary, Tertiary, Quaternary, Quinary
Legal Structure
Ans: Sole Trader, Partnership, Public, Private, Government
Organisation
All rights reserved © 2025/ 2026 |
, Page |2
Factors Influencing Legal Structure
Ans: Size, Ownership, Finance
External Influences
Ans: Economical, Financial, Geographical, Social, Legal,
Polictical, Institutional, Technological, Competitive Situation,
Markets
Internal Influences
Ans: Products, Location, Resources, Management, Business
Culture
Stages of Business Life
Ans: Establishment, Growth, Maturity, Post-Maturity
Factors that can lead to Business Decline
Ans: Global Competition, Lack of Funds, Overdependence on a
single customer, Poor management, Poor employees, Poor
location, Natural disasters
Cessation
All rights reserved © 2025/ 2026 |
