Business activity and people

Paper labels are an unofficial, independently authored grouping, applied only where a question's own format genuinely matches a real paper convention (such as IB Mathematics AA's non-calculator/calculator split). They do not reproduce any exam board's real paper numbering or mark allocation, and uncertain questions are labelled general practice instead.

• 3A company that catches fish, a company that cans the fish, and a company that sells the canned fish in shops belong respectively to which sectors? A All primary B Primary, secondary, tertiary C Secondary, tertiary, primary D All tertiary✓ ReviewedPaper 1 styleEasy1 marksNo calculator+
• 4A furniture maker buys wood worth $50 and turns it into a chair that sells for $200. Explain the concept of added value in this example.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 5Explain what is meant by limited liability, and why this might encourage someone to invest in a company.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 6Explain one advantage to two friends starting a business together of forming a partnership rather than each operating as a separate sole trader.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 7Explain one reason why a growing private limited company might choose to become a public limited company by selling shares on a stock exchange.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 8Explain what is meant by a social enterprise, and how it differs from a typical profit-driven business.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 9Explain the difference between internal growth and external growth for a business.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 10Explain why survival, rather than maximising profit, is often the main objective of a business in its first year of trading.✓ ReviewedPaper 1 styleEasy2 marksNo calculator+
• 11A large multinational car manufacturer opens a new factory in a developing country. Analyse one benefit this could bring to that country.✓ ReviewedPaper 2 styleEasy2 marksNo calculator+
• 12An entrepreneur's own skill in organising land, labour and capital to start a new business is itself a fourth factor of production, known as: A Land B Labour C Capital D Enterprise✓ ReviewedPaper 1 styleEasy1 marksNo calculator+