UNIT 1 – Assessment

(a) Differentiate between needs and wants

(b) Prepare two lists: the first write down the things that you need and second listing things that you want

What are the main difference between goods producing and service producing business ?

Investigate the various business enterprises in your local area and list them under following three types.

                (a)          Private enterprise

                (b)          Public enterprise

                (c)           non-profit enterprise

Explain the benefits that the society could gain from business in addition to giving profit to the owners.

Explain how Primary, Secondary and Tertiary level production process work with each other.

What might be the objectives of public sector business organizations ?

Describe the  interest that each internal stakeholders has in a business ?

What differences do you see between capital goods and consumer goods ?

Define what business is and identify four key social and economic roles that business serve.

Which of the following does not represent one of the four factors of production.

Refer to the latest annual report of the Central Bank of Sri Lanka and highlight the negative or positive changes occurred in GDP of Sri Lanka.

What is meant by “job specialization” . Explain the positive and negative aspect of job specialization.

Name and explain aims common to most business.

Explain with examples direct taxes and indirect taxes.

Explain what benefits bring to a business by using new technology.

State four negative externalities arise in macro environment that may be created by business.

(a) what forces do you see in Task Environment of a business.

(b) Explain the negative and Positive impact of these forces for a business.

Identify the four areas of “SWOT” analysis starting which are internal and which are external.

Name the internal environment forces of a business and explain separately how those forces influence the performance of a business.

Explain four major threats that are faced by businesses in today’s global environment.

Increasing level of pollution are the major threats to natural environment. Explain how businesses can contribute to minimize this.

When compare to the other macro environment forces demographic environment has a large impact on businesses. Do you agree or not? explain your answer

Some of the business environmental forces are given below

Owners                Resources          

Competitors       Customers

Managers            Suppliers

Employees          Potential Businessmen

Categarize them under

(a) internal environment and

(b) task environment

Explain how organizational culture influence on business activities.

Explain strengths and weaknesses  that are common to the following function of a business.

(a) Marketing

(b) Finance

(c) H.R

(d) Operation ( Production)

Name the external environment forces of a business and show those forces influence on businesses.

Waste disposal is a major environmental problem in urban areas in Sri Lanka Identify and explain possible solutions to overcome this problem.

Explain briefly major threats that are faced by businessmen in today’s global environment.

Which one of the following belongs to the social and cultural environment

A limited but renewable natural resource is