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Duplicate of People in Business Flashcards | StudBud
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Duplicate of People in Business
Duplicate of People in Business
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Unit 1 chapter 1 Leaving Cert Business
Flashcards
63 cards
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Practice quiz
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Questions
63
Answers
1
What is a business?
a social club
an enterprise which provides goods or services
an enterprise set up to make a profit
a bit of craic in the evenings
2
choose the odd one out
performance
annoyance
frustration
agreement
3
Can you can end up in court if you break a contract?
false
true
4
if a footballer misses a match this is a breach of
condition
warranty
5
An Entrepreneur spots a .......... in the market
idea
gap
risk
opportunity
6
How many elements of a contract are there?
6
9
5
8
7
to have intention to contract you have to sign a contract
true
false
8
a consumer buys goods and services for their own use?
false
true
9
specific performance means
compensation is paid
the judge order the contract to be fulfilled
the judge cancels the contract
10
which of these contracts does not need to be written
insurance policies
buying a car
hire purchase
buying a house
11
employers and employees only ever have a cooperative relationship
true
false
12
a producers makes....
money
services
rules & regulations
raw materials
13
a contract must be written
false
true
14
Ultra vires relates which element of a contract?
offer
capacity
consideration
acceptance
15
agreement happens
unforeseen event has taken place
both parties decide to end the contract
when one person breaks the contract
the contract has been fulfilled
16
An investor provides what for a business
services
profit
money/capital
raw materials
17
A win - win relationship is
cooperative
dynamic
competitive
18
a win lose relationship is
dynamic
competitive
cooperative
19
an offer can't be made by
price tag
written
by conduct
orally
20
all business contracts are legally binding
false
true
21
all social arrangements are legally binding
false
true
22
some contracts must be written to be legal
false
true
23
suing for damages means
the judge orders the contract to be carried out
the judge orders both sides to pay money
the judge orders compensation to be paid
the judge orders the contract to be cancelled
24
which of the following is not an element of a contract?
acceptance
offer
agreement
invitation to treat
25
if a footballer misses a training session this is breach of a
condition
warranty
26
How many remedies for breach of contract are there?
none
2
5
3
27
one person breaking the contract is known as
frustration
agreement
breach
specific performance
28
a concert being cancelled due to a storm is an example of
agreement
breach
performance
frustration
29
a band playing a concert and being paid is an example of
frustration
breach
agreement
performance
30
which of the following is not an entrepreneur?
Bill Gates
Mark Zuckerberg
Richard Branson
Mr. Bean
31
a relationship that is constantly changing is
dynamic
competitive
cooperative
32
something of value passing between the two parties is which element?
capacity
intention
offer
consideration
33
How many ways are there to terminate a contract?
2
4
3
5
34
if an offer of €1500 is accepted for a car how much is the consideration?
2000
1000
1500
500
35
what is the name of the people affected by how the business is run?
stakeholders
steakholders
36
people under the age of 18 can enter into a contract
false
true
37
rescinding the contract means
the judge is ignored
the contract has to be followed
compensation is paid
the contract is cancelled
38
a sign in a shop window is an offer
true
false
39
performance means....
one person broke the contract
the contract has been fulfilled
both sides forget about the contract
both sides carry out the contract and the contract is over
40
when you agree to all the terms of a contract this is known as
capacity
offer
agreement
acceptance
41
breach of a condition terminates a contract
true
false
42
spot the odd one out
ESB
TUI(Teachers union of Ireland)
IBEC (Irish Business and employers confederation)
greenpeace
43
which group of people can't enter a contract?
teachers
reverants
engineers
diplomats
44
Manchester United and Chevrolet have which kind of relationship ?
dynamic
competitive
cooperative
45
a consumer buys goods or services?
true
false
46
an offer is asking somebody to enter into a deal
true
false
47
when a manager shares out jobs to be done this is called
delegation
dalagation
being lazy
being bossy
48
rescinding the contract means the contract is ended
false
true
49
a contract is a legally binding agreement between two or more parties
true
false
50
a manager's job is to make day to day
money
decisons
products
51
quid pro quo is related to which element of a contract?
consideration
legality of purpose
acceptance
offer
52
Which of the following is not a stakeholder of a business
next door neighbour
entrepreneur
investor
employer
53
entering the contract of your own free will relates to which element of a contract?
consent
offer
capacity
acceptance
54
Aer lingus and Ryanair have which kind of relationship?
competitive
cooperative
dynamic
55
when a party rejects the terms of an offer and tries to change them this is called a
acceptance
offer
counter-offer
deal
56
breach of a warranty terminates a contract
false
true
57
which of the following is not a service provider
ESB
accountant
farmer
lawyers
58
an invitation to treat is asking somebody to enter into a deal
false
true
59
an unforeseen event e.g. death or bankruptcy or flooding that ends a contract is known as;
breach
specific performance
frustration
agreement
60
a bank is an investor
true
false
61
legality of purpose means all written contracts are legal
false
true
62
Threatening somebody to enter into a contract makes it legally binding
false
true
63
spot the odd one out
specific performance
rescind the contract
sue for damages
agreement
