LYCEUM INTERNATIONAL SCHOOL

Monthly Test – October 2017

Subject : Business Studies
Class : 8 ….......
Duration : 1 period Date : .......................................
Candidate's name : ........................................................... Admission no : ........................
PART – I

(1) Underline the most suitable answer.

(i) Which one is not a business activity carried out by a construction company ?
(a) Buying cement (b) Deciding to apply the 5S concept
(c) Providing construction services (d) Paying transportation charges

(ii) Which would be an objective of a public sector organization ?

(a) Generating employment opportunities (b) Earning high profit
(c) Increasing efficiency (d) Investing in new technology

(iii) Which one is an example for a public sector organization ?

(a) John Keells Holdings (b) Odel PLC
(c) Perera & Sons Bakers (d) The Municipal Council

(iv) Which one of the following is not a supporting service of a plantation ?

(a) Insurance (b) Transportation (c) Manufacturing (d) Warehousing

(v) “Producing goods which have a greater demand” is a feature of a

(a) command economy. (b) planned economy .

(c) market economy. (d) mixed economy .

[Total = 2 × 5 = 10 marks]

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Grade 8 Business Studies contd.....from page 1

(2) Mark true (T) or false (F).

(i) Data deletion due to technical failure is a benefit of telecommunication. [­­­­­­­­]

(ii) The purchase of the 'Aroga Private Hospital' by the Government is

an example for nationalization. [­­­­­­­­]

(iii) Lending money is a function of an insurance organization. [­­­­­­­­]

(iv) The scarcity of resources causes the sacrifice of choices. [­­­­­­­­]

(v) The ownership of private sector organizations is vested with the public. [­­­­­­­­]

[Total = 2 × 5 = 10 marks]

(3) Match Column A with Column B and write the correct letter in the grid provided below.

A B

(i) Two or more individuals agree to start a business together. (a) Efficiency

(ii) All the decisions are taken by the private sector. (b) Command economy

(iii) A feature of a good transportation method. (c) Market economy

(iv) All the resources are owned by the Government. (d) Joint venture

(v) Two or more businesses agree to start a new business

project together. (e) Partnership

A (i) (ii) (iii) (iv) (v)

[Total = 2 × 5 = 10 marks]

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Grade 8 Business Studies contd.....from page 2
PART – II

Answer all the questions.

(1) (i) What would be the supporting services of a biscuit manufacturing organization (Aids to Trade) ?

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ (b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(c) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ (d) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(ii) Write two benefits of one of the above mentioned Aids to Trade.

Aid to Trade : ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

Benefits :

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(iii) Different countries follow different types of economic systems due to the scarcity of

resources. Define the term “Economic system.”

­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(iv) Name three types of economic systems.

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(c) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(v) Identify the economic system of Sri Lanka and name two of its features.

Type of the economic system : ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

Features :

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

[Total = 2 × 5 = 10 marks]

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Grade 8 Business Studies contd.....from page 3
(2) Read the description given and answer the questions listed below.

China Constructions (Pvt.) Ltd. and Sri Lankan Constructions (Pvt.) Ltd. agree to start a new

business project to construct an express way in Sri Lanka.

(i) Identify the type of business organization.

­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(ii) Write two advantages of the above mentioned type of business.

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(iii) Write two disadvantages of the above mentioned business type.

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(iv) What are the other types of private sector business organizations ?

(a) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(c) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(d) ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(v) Imagine that you want to start a private sector business with a world famous brand name.

(a) What is the suitable type for the business ? : ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

(b) Write one advantage of operating this type of business .

­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­

[Total = 2 × 5 = 10 marks]

END

Ref : NR