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Unit 1: Exploring Business Learning Aim A and B Flashcards | StudBud
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Unit 1: Exploring Business Learning Aim A and B
Unit 1: Exploring Business Learning Aim A and B
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1
What would likely be an aim for a business with public ownership?
Provide a service
Break even
Growth
Market leadership
2
'We split profits, but have unlimited liability' is a description of a...
Sole trader
Partnership
Public limited company
Private limited company
3
Which statement tells us about the future plans / direction for the business?
Vision
Mission
Values
4
What is an example of a not-for-profit business?
Amazon
Virgin
RSPCA
McDonalds
5
Sole traders have
limited
liability, true or false?
False
True
6
Which type of organisational structure has lots of levels of authority?
Flat
Hierarchical
Flat
Holocratic
7
Public limited companies (plc) are owned by the government?
True
False
8
A company, where shareholders brought their shares on the stock market is a ...
Sole trader
Partnership
Private Limited Company
Public Limited Company
9
Customers are which type of stakeholder?
External
Internal
10
Bring on our first assignment... I feel
Like my brain is about to explode
Terrified (but I'll give it a go)
Ready (bring it on)
Somewhere in-between terrified and ready
11
An advantage of a private business is...
Lose money
More debt
More support by government
More risk = more reward
12
Is Tesco private or public?
Private
Public
13
Which type of business ownership is likely to aim to make a profit?
Private
Public
14
Which statement describes the business aim?
Vision
Mission
Values