FORM 3 BUSINESS STUDIES HALF YEARLY EXAM 2017-2018 …

FORM 3 BUSINESS STUDIES HALF YEARLY EXAM 2017-2018 TIME: 1h 30 min

Name: _________________________________ Class: _______

Index No.______

__________________________________________________________________________________

FOR TEACHER'S USE ONLY

SEC A Sec B Sec C Sec D Sec E Sec E Sec F TOTAL

Case 1 Case 2

MARK

10

10 10

10

20

20

10

100

ANSWER ALL SECTIONS

SECTION A FILL IN THE BLANKS WITH THE WORDS PROVIDED [ /10]

capital

durable

needs

consumer

scale of preferences

services choices

resources single use

opportunity cost

The main purpose of the existence of businesses is to provide goods and ___________________ to satisfy the _____________ and wants of society. Man's wants are insatiable and there are not enough _________________ to satisfy all of these. Due to this scarcity, people have to make ______________. The average family, a businessman and the government would need to make a ___________________________________________________ , that is they spend their income on the most important things first before they spend money on other 1

Form 3 Business Studies Half Yearly Exam 2018

things. Also, many times one has to choose on spending the money available on one of two items costing the same amount. The item given up is the ________________________________________________ of the chosen item. Businesses produce two types of goods: those used by everyone , ____________ goods and those used by businesses ,__________________ goods. The goods that we buy fall under three categories which are _____________________ items which are only used once, non-durable goods which have a short expiration date and _____________ goods which last for a long time.

SECTION B

UNDERLINE THE CORRECT ANSWER IN INK [

/10]

1. The following are examples of basic needs

(a) food, shelter, jewellery.

(b) food, shelter, clothing.

(c) shelter, clothing, i-phone.

2. The following are examples of capital:

(a) machinery, office computer, printing press

(b) manual tools, sea, banana plantation

(c) ambulance, TV set at home, personal watch

3. The following form part of the public sector of the Maltese economy:

(a) the Police Corp, the Maritime Authority, Go plc

(b) Simonds Farsons Cisk plc, HSBC (Malta) plc, Bank of Valletta plc

(c) Enemalta Corporation, Water Services Corporation, the Armed Forces

4. The following are business functions, except

(a) Research and Development, Finance, Marketing

(b) Purchasing, Personnel, Production Department

(c) Purchasing Department, Public Registry , Legal Department

2 Form 3 Business Studies Half Yearly Exam 2018

5.An organization chart shows (a) whether the firm is decentralised or centralised. (b) the internal structure of an organisation. (c) the contacts that the firm has with other firms. 6. A memorandum is used: a) to show the plan of a meeting to those attending. b) to communicate with a complaining client. c) to send a message to an employee. 7. A private-public partnership is: a) an arrangement between the government and private enterprises to carry out a project together. b) a business set up between two to twenty partners. c) an arrangement between the government and public enterprises to carry out a project together. 8. A Subsistence Economy is typical of: a) European countries where there is both public and private business ownership. b) Japan and the United States where all goods and services are provided by private entrepreneurs. c) Poor countries where people produce only what they need. 9. Local Councils: a) have the authority to see that businesses abide by laws. b) take care of a particular town or village such as garbage collection and the upkeep of playgrounds. c) provide free or almost free services to all the citizens of Malta. 10. Visual communication consists of he use of: a) graphs, pictures, maps, video clips etc to convey a message. b) facial expressions and gestures that give away how a person is feeling. c) e-mails and web pages.

3 Form 3 Business Studies Half Yearly Exam 2018

SECTION C

Match the following terms to their meanings by

writing the letter of the term next to its meaning:

[

/10]

Term a Direct Production b Legal tender (of

money) c Profit

d Command Economy e Limited liability f Not a separate legal

entity g Mayor h Centralisation

i Notice

j Ad hoc meeting

Meaning

The factor payment for the entrepreneur

If the business fails private belongings are not at risk.

Heads a local council, as s/he would have obtained the majority of votes.

Producing the thing you need on your own

All decisions are taken by the General Manager

It is acceptable as repayment of debts or as payment for goods.

A meeting called quickly due to an urgent matter

All factors of production are owned by the government and no private businesses can exist.

If someone breaks the law within the business the owner/s will be held responsible,

A written form of communication aimed for all those who pass by a notice board.

4 Form 3 Business Studies Half Yearly Exam 2018

SECTION D GIVE TWO EXAMPLES OF EACH OF THE FOLLOWING:[ /10] a) The first forms of money _________________ ________________ b) Single use items __________________ _______________ c) Computer use in business

___________________________________________________________ ___________________________________________________________

d) Voting during a meeting

___________________ ________________________________

e) Government Departments

_____________________

___________________________

f) Reasons for business activity

_____________________

_____________________

g) Jobs in the Primary Stage of production

____________________

_________________________

h) Commercial services

___________________

_________________________

i) Wants

___________________

________________________

j) Items which do not pass through the secondary stage of production

___________________

________________________

5 Form 3 Business Studies Half Yearly Exam 2018

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