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  • Business Studies End Month Test

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    This document outlines a 40 minute, 40 mark business studies end of month test for year 7 students. The test contains 7 questions assessing various business concepts: 1) the four factors of production and their rewards, 2) opportunity cost with an example, 3) the economic problem, 4) the definition and benefits/limitations of division of labor and specialization, 5) the characteristics of entrepreneurs, 6) reasons why governments support business start-ups, and 7) the three stages of economic levels.

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    BUSINESS STUDIES END MONTH TEST

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    This document outlines a 40 minute, 40 mark business studies end of month test for year 7 students. The test contains 7 questions assessing various business concepts: 1) the four factors of production and their rewards, 2) opportunity cost with an example, 3) the economic problem, 4) the definition and benefits/limitations of division of labor and specialization, 5) the characteristics of entrepreneurs, 6) reasons why governments support business start-ups, and 7) the three stages of economic levels.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views3 pages

    Business Studies End Month Test

    Uploaded by

    kakuweinfinity
    This document outlines a 40 minute, 40 mark business studies end of month test for year 7 students. The test contains 7 questions assessing various business concepts: 1) the four factors of production and their rewards, 2) opportunity cost with an example, 3) the economic problem, 4) the definition and benefits/limitations of division of labor and specialization, 5) the characteristics of entrepreneurs, 6) reasons why governments support business start-ups, and 7) the three stages of economic levels.

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    of 3

    BUSINESS STUDIES END MONTH TEST.

    TIME: 40MINS
    MARKS: 40MKS
    YEAR 7.

    Q1. List the four factors of production and the reward for each. (4mks)
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    Q2.explain opportunity cost with an example (3mks)


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    Q3. Economic problem (2mks)
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    Q4. i) Define division of labour and specialisation (2mks)
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    ii) Give the two benefits and two limitations of specialization (4mks)
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    Q5. Explain four characteristics of entrepreneurs (6mks)


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    Q6. Give three reasons why governments support business start-ups. (3mks)
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    Q7. Explain three stages of economic levels (types of sectors). (6mks)
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