Business Studies Multiple Choice Question – 19 May 2023

After years of working for other people, Lucy left her full-time job to set up her own design business, Lucy Art Design.

Which one of the following is the most likely motive for Lucy’s decision to set up her own business?

Select ONE answer:

1. To work fixed hours
2. To gain more job security
3. To work independently
4. To ensure regular income

Show your workings to arrive at your answer, and explain and justify your reasons:

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This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct – because self employed people will work the hours necessary to make their business successful.
2. Not correct – because setting up a business is risky and does not offer any guarantee of job security.
3. Correct – Definition of independence e.g. free from outside control/not depending on authority of others. To work on her own/to make her own decisions rather than take instructions from managers. Develop/shape the business/drive the business in the direction she wants to go.
4. Not correct – because regular income cannot be guaranteed as it will be dependent on gaining revenues.

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