Lesson 1.2.1

1.2.1 Business sectors Quiz: OCR Business, Unit 1

20 questions

Written by Revision Ninja · Last reviewed 11 October 2026

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Lesson 1.2.1, Business sectors: 20 multiple choice questions for the OCR Business (H431), Unit 1: Introduction to Business, written with Revision Ninja.

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The 20 questions

  1. Which sector involves extracting natural resources directly from the earth?

    • Primary
    • Quaternary
    • Secondary
    • Tertiary

  2. What type of organisation is owned and controlled by the government?

    • Private sector
    • Public sector
    • Co-operative
    • Third sector

  3. Which legal structure gives owners personal financial responsibility for all business debts?

    • Incorporation
    • Unlimited liability
    • Limited liability
    • Public limited company

  4. What term describes a business that buys the rights to operate under an established brand name?

    • Franchisor
    • Co-operative
    • Franchisee
    • Sole trader

  5. Which business function is primarily responsible for raising capital and managing cash flow?

    • Marketing
    • Accounting and finance
    • Customer service
    • Operations management

  6. Which type of business organisation is owned and democratically controlled by its members?

    • Partnership
    • Sole trader
    • Co-operative
    • Public limited company

  7. Which legal structure protects personal assets of owners if the business goes bankrupt?

    • General partnership
    • Unlimited liability
    • Sole proprietorship
    • Limited liability

  8. What is a business operating in multiple countries with facilities outside its home nation called?

    • National
    • Local
    • Multinational
    • Exporting sole trader

  9. A farm growing organic wheat operates in which business sector?

    • Quaternary
    • Tertiary
    • Primary
    • Secondary

  10. A factory transforming raw cotton into denim jeans operates in which sector?

    • Quaternary
    • Secondary
    • Primary
    • Tertiary

  11. Oxfam operates as a non-profit charity. Which sector does it belong to?

    • Primary sector
    • Public sector
    • Third sector
    • Private sector

  12. Two accountants want shared liability protection without incorporating as a traditional company. Which structure fits best?

    • Limited liability partnership
    • General partnership
    • Public limited company
    • Sole trader

  13. Which legal business entity can publicly trade its shares on the London Stock Exchange?

    • Public limited company
    • Sole trader
    • Private limited company
    • Partnership

  14. A corner shop selling goods exclusively within a single town operates in which market?

    • Global market
    • National market
    • Local market
    • Third sector

  15. Which function oversees quality assurance, production workflows, and inventory control in a factory?

    • Human resources
    • Accounting and finance
    • Operations management
    • Sales

  16. A firm employing 30 staff members with an annual turnover of £5 million is classified as what?

    • Public corporation
    • Large enterprise
    • Small enterprise
    • Micro enterprise

  17. What is the main legal requirement when converting a private limited company into a public limited company?

    • Maximum 50 shareholders
    • Government ownership approval
    • Minimum share capital
    • Unlimited owner liability

  18. Why might a business choose to grow through franchising rather than opening company-owned branches?

    • Lower brand awareness
    • Complete operational control
    • Faster capital expansion
    • Higher profit margins

  19. Which metric gives the most accurate comparison of market power between firms in the same industry?

    • Floor space
    • Market share
    • Total profit
    • Employee headcount

  20. What happens to a private limited company upon an owner's death?

    • Shares become worthless
    • Business dissolves immediately
    • Business continues existing
    • Ownership transfers to government

All OCR Business quizzes