Kingdom of Saudi Arabia

Creating well-prepared individuals, cognitively and behaviorally

Madinat Al-Oloum while focusing on developing psychomotor skills.
International Schools

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‫مدارس مدينة العلوم العالمية‬
Academic Year 2021 / 2022
Grade 12 Business Review
1. The sector produces construction, car manufacturing and banking is
secondary sector
Today ,
2. Growth by taking over or merging with another business is an example of
external growth
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3. One of the disadvantages of a sole trader business is that capital is limited
to owner’s savings and bank loans
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4. Horizontal Merger is merging with a business in the same business sector.

5. Easy to start, Owner is his/her own boss, Owner keeps all the profits - These
are advantages of Sole Proprietorship

6. How are sole proprietorships and partnerships alike?

Owners have complete control of the business.

7. keep all the profits and ease of starting a business are an advantage of a
sole proprietorship

8. Tertiary production refers to the commercial services .

9. Privatization means no government intervention in the production of any

sort of good or service.

10. Mixed economy a mixture of government owned corporations and

privately own businesses.

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 Kingdom of Saudi Arabia
Creating well-prepared individuals, cognitively and behaviorally
Madinat Al-Oloum while focusing on developing psychomotor skills.
International Schools

Learn
‫مدارس مدينة العلوم العالمية‬
Academic Year 2021 / 2022
Grade 12

11. Privatization means that they changed owners from government to

private shareholders.
12. When a business expand its current operations is Internal growth
Today ,
13. Some business stay small because of _____________
a. The type of industry the business operates is easier.
b. Human resources are limited in terms of the skills available. Lead
c. A limit to number of people who are willing to buy the type of

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products that the business is producing.

14. Conglomerate integration when 2 firms merge together from totally

15.
different industry
Organic growth means the business grows by expanding its sales or
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their operations and is financed through its own profits

16. The advantages of merger and acquisition are :

a. Greater market share
b. Other business can bring new skills and specialist department to the
business.

17. One of the disadvantages of merger and acquisitions is conflict of

objectives between different business.

18. Command economy where the government controls all forms of

production .

19. Public sector organizations are owned and controlled by the

government.

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 Kingdom of Saudi Arabia
Creating well-prepared individuals, cognitively and behaviorally
Madinat Al-Oloum while focusing on developing psychomotor skills.
International Schools

Learn
‫مدارس مدينة العلوم العالمية‬
Academic Year 2021 / 2022
Grade 12

20. Services are non – physical items such as hairdressing.

21. Almost every country consists of two business sectors, the private
sector and the public sector.
Today ,
22. A partnership is a group consisting of 2 to 20 people who run and
own a business together. Lead
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23. The following are the industries under government ownership health,
education, defense, and electricity.

24. Partnership requires a Deed of Partnership or Partnership Agreement.

25. In order to create goods and services, a business buys or hires

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inputs such as raw materials.

26. Opportunity cost is choice is necessary when resources are scarce.

27. Specialization is a division of labour

28. Stakeholders are owners have a major say in deciding the aims of a
business , other interest groups.

29. Sole traders are the most common form of business in the world.

30. Ethics refers to the moral rights and wrongs of any decision a business
makes.

31. a need is basic requirement for living

32. In private sector of the business, individual owns the business

while government controls the business in the public sector.

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 Kingdom of Saudi Arabia
Creating well-prepared individuals, cognitively and behaviorally
Madinat Al-Oloum while focusing on developing psychomotor skills.
International Schools

Learn
‫مدارس مدينة العلوم العالمية‬
Academic Year 2021 / 2022
Grade 12

33. More capital than a sole trader and responsibilities are split are the
advantages of Partnership
Today ,
34. sole proprietorship is defined as a business which is owned and
operated by one individual.
Lead
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