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Edexcel A Level Business - 1.5 Entrepreneurs and leaders - Theme 1 Flashcards | StudBud
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Edexcel A Level Business - 1.5 Entrepreneurs and leaders - Theme 1
Edexcel A Level Business - 1.5 Entrepreneurs and leaders - Theme 1
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#Edexcel A Level #Business - 1.5 Entrepreneurs and leaders - Theme 1
Flashcards
15 cards
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Questions
15
Answers
1
Which of the following is a financial motive for entrepreneurship?
Independence and home working
Ethical stance
Dividends
Social entrepreneurship
2
When a business sells the right to use its name and goodwill in return for a series of fees:
Franchising
Sale and leaseback
Outsourcing
Offshoring
3
A manager who works within a business and promotes innovation and new ideas:
Entrepreneur
Extrapreneur
Iterpreneur
Intrapreneur
4
When two or more people share ownership and control of an unincorporated business:
Sole trader
Partnership
Public limited company
Private limited company
5
Which of the following forms of business gives owners limited liability?
Private limited company
Ordinary partnership
Sole trader
Public limited company
6
Cost efficiency is likely to result in which benefit to the business?
Improved value added
Reduced price elasticity of demand
Better employee welfare
More competitive pricing
7
Starting a lifestyle business with limited growth potential to pursue an interest or hobby.
Profit satisficing
Profit maximisation
Profit creation
Profiteering
8
Which of the following is
not
associated with moving from being an entrepreneur to a leader?
The need for shared ownership
The need for motivation and inspiration
The need for increased independence
The need for strategy and vision
9
Where having more of one thing potentially results in having less of another:
Opportunity lost
Opportunity cost
Trade-off
Trade-down
10
The benefit forgone from not following the best alternative course of action:
Trade-off
Trade-down
Opportunity cost
Opportunity lost
11
A business objective based on increasing sales relative to competitors is known as:
Market share
Customer satisfaction
Sales maximisation
Cost efficiency
12
A business which seeks to make a profit, but which has primarily social objectives is known as:
Sole trader
Public limited company
Private limited company
Social enterprise
13
When one person has complete ownership and control of an unincorporated business:
Public limited company
Partnership
Private limited company
Sole trader
14
Which of the following is
not
a barrier to entrepreneurship?
Lack of experience in the market
Corrupt and unsupportive business environment
Trade liberalisation
Risk aversion
15
Which of the following forms of business can advertise shares for sale on the stock market?
Sole trader
Public limited company
Private limited company
Partnership
