Business concepts key terms

23 termsStudBud Administration502 plays

Business concept gcse key terms

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Questions 23

Answers

1
What decision you have the power to make
Authority
Line Manager
Span Of Control
UNLIMITED LIABILITY
2
Types of business owned by at least 2 people
Limited Liability
PARTNERSHIP
Secondary Sector
Tertiary Sector
3
If your business goes bankrupt then you can lose your personal possessions to pay for the debt
Span Of Control
Authority
UNLIMITED LIABILITY
Levels Of Hierarchy
4
Debt is limited to share capital not personal possessions
Public Limited Company
Span Of Control
Private Limited Company
Limited Liability
5
Type of business owned by one person
Line Manager
Franchise
SOLE TRADER
SHAREHOLDER
6
A business owned by 1-50 individuals, shares are sold privately
UNLIMITED LIABILITY
Public Limited Company
Private Limited Company
Private Sector
7
Where buyers and sellers come together
Factors of Production
Franchise
A market
PARTNERSHIP
8
The things you need to make a business: Land, Labour, Capital & Enterprise
Levels Of Hierarchy
Factors of Production
Tertiary Sector
A market
9
Businesses owned by private individuals
Private Limited Company
Public Limited Company
Public Sector
Private Sector
10
A Franchisee pays a franchisor for the right to operate as them. E.g. McDonalds
SHAREHOLDER
Organisational Chart
Franchise
Public Limited Company
11
How many employees you have responsibility for
Levels Of Hierarchy
Authority
Span Of Control
UNLIMITED LIABILITY
12
Refining raw materials
Primary Sector
Tertiary Sector
Secondary Sector
Private Sector
13
Keeping current employees
Recruitment
Retention
Entrepreneur
Training
14
Providing a good or a service to the market
Tertiary Sector
Primary Sector
Private Sector
Secondary Sector
15
Keeping current employees
Retention
Training
Entrepreneur
Recruitment
16
Teaching of new skills
Entrepreneur
Retention
Training
Recruitment
17
Employing new members of staff
Training
Entrepreneur
Retention
Recruitment
18
A diagram outlining who has responsibility over whom
Training
Span Of Control
Factors of Production
Organisational Chart
19
Someone who owns a part of a company
Line Manager
Franchise
SOLE TRADER
SHAREHOLDER
20
Your personal boss
SOLE TRADER
Line Manager
SHAREHOLDER
Entrepreneur
21
Extracting of raw materials
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
22
An individual with an idea who takes a risk and sets up a business
Line Manager
SOLE TRADER
Franchise
Entrepreneur
23
How many layers there are in the organisational chart
Span Of Control
SHAREHOLDER
Franchise
Levels Of Hierarchy

Business concepts key terms Flashcards | StudBud

Business concepts key terms

23 termsStudBud Administration502 plays

Business concept gcse key terms

Flashcards23 cardsFPractice quizPHost liveL

Questions 23

Answers

1
What decision you have the power to make
Authority
Line Manager
Span Of Control
UNLIMITED LIABILITY
2
Types of business owned by at least 2 people
Limited Liability
PARTNERSHIP
Secondary Sector
Tertiary Sector
3
If your business goes bankrupt then you can lose your personal possessions to pay for the debt
Span Of Control
Authority
UNLIMITED LIABILITY
Levels Of Hierarchy
4
Debt is limited to share capital not personal possessions
Public Limited Company
Span Of Control
Private Limited Company
Limited Liability
5
Type of business owned by one person
Line Manager
Franchise
SOLE TRADER
SHAREHOLDER
6
A business owned by 1-50 individuals, shares are sold privately
UNLIMITED LIABILITY
Public Limited Company
Private Limited Company
Private Sector
7
Where buyers and sellers come together
Factors of Production
Franchise
A market
PARTNERSHIP
8
The things you need to make a business: Land, Labour, Capital & Enterprise
Levels Of Hierarchy
Factors of Production
Tertiary Sector
A market
9
Businesses owned by private individuals
Private Limited Company
Public Limited Company
Public Sector
Private Sector
10
A Franchisee pays a franchisor for the right to operate as them. E.g. McDonalds
SHAREHOLDER
Organisational Chart
Franchise
Public Limited Company
11
How many employees you have responsibility for
Levels Of Hierarchy
Authority
Span Of Control
UNLIMITED LIABILITY
12
Refining raw materials
Primary Sector
Tertiary Sector
Secondary Sector
Private Sector
13
Keeping current employees
Recruitment
Retention
Entrepreneur
Training
14
Providing a good or a service to the market
Tertiary Sector
Primary Sector
Private Sector
Secondary Sector
15
Keeping current employees
Retention
Training
Entrepreneur
Recruitment
16
Teaching of new skills
Entrepreneur
Retention
Training
Recruitment
17
Employing new members of staff
Training
Entrepreneur
Retention
Recruitment
18
A diagram outlining who has responsibility over whom
Training
Span Of Control
Factors of Production
Organisational Chart
19
Someone who owns a part of a company
Line Manager
Franchise
SOLE TRADER
SHAREHOLDER
20
Your personal boss
SOLE TRADER
Line Manager
SHAREHOLDER
Entrepreneur
21
Extracting of raw materials
Primary Sector
Secondary Sector
Tertiary Sector
Private Sector
22
An individual with an idea who takes a risk and sets up a business
Line Manager
SOLE TRADER
Franchise
Entrepreneur
23
How many layers there are in the organisational chart
Span Of Control
SHAREHOLDER
Franchise
Levels Of Hierarchy