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Year 11 Business Studies - Role of business Flashcards | StudBud
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Year 11 Business Studies - Role of business
Year 11 Business Studies - Role of business
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Business studies
Flashcards
10 cards
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Questions
10
Answers
1
Evan Spiegel starting Snap Chat is an example of
entrepreneurship
incomes
employment
innovation
2
Calculate the profit. Number of sales = 2000. Sale price per unit = $8.00 Cost per unit = $4.50
$7,000
$9,000
-$16,000
$16,000
3
The title of topic 1 in the Preliminary course is...
Business basics
Role of business
Business nature
Nature of business
4
Which of the following is not a role of business
advertising
innovation
profit
wealth
5
The more competition there is, the lower prices are for customers because this provides...
income
wealth
employment
choice
6
Wages, salaries and dividends are types of...
Wealth
Employment
Profit
Incomes
7
Profit can be calculated by the following
Profit = Revenue - Expenses
Profit = Income - Costs
Profit = Sales Revenue - Expenses and dividend distributions
Profit = Sales Revenue - Expenses
8
Adam has decided to take out a loan and start a soccer clinic business for kids. The role is
entrepreneurship
profit
choice
innovation
9
A business product will include either
a good or service
a good and assets
a good and/or a service
a service and warranties
10
The income produced by business activities provide wealth to...
Governments through tax
Employees through wages
All answers are correct
Lenders through loan repayments
