What are the factors of production?

Are those resources needed to produce goods or services.

Mixed economy means...

A mixed economy has a private sector and a public sector

Different ways in which businesses can grow

By internal and external growth

Which is an Added value' example

I'm a dressmaker, I buy fabric and make T-shirts to sell it

Benefits of being an entrepreneur...

able to make use of personal interests and skills

Select the main leadership styles

laissez-faire, autocratic and democratic

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Questions 17

Answers

1
Hierarchy refers to the levels of management in any organisation, the best system is when is only one level
False
True
2
Which business is a franchise?
A therapist
An apple store
Santi Maratea donations
Your own brand of football t-shirts
3
What are the factors of production?
The are four factors of production: land, labour, money and enterprise
The are three factors of production: land, labour and capital
Are those resources needed to produce goods or services.
Factors of production are unlimited in supply
4
The main forms of business organisation in the private sector are:
All are correct
Sole traders and partnerships
Franchises and joint ventures
Private and public limited companies
5
Mixed economy means...
A mixed economy has a private sector and a public sector
A business owned by the government
A business not owned by the government, just privates.
A business that could by affected by the government decisions
6
Different ways in which businesses can grow
By having more employees
By internal and external growth
All are correct
By making more money
7
A trade union is a group of employees who have joined together to work
False
True
8
Deciding which wants we will satisfy and which we will not, means: opportunity cost.
True
False
9
Which is an Added value' example
I'm a dressmaker, I buy fabric and make T-shirts to sell it
incorrect
I'm a taxi driver, and I give candies to passengers
I have a supermarket, I buy drinks to Coca Cola and re-selt it
10
Why governments support business start-ups?
To decrease competition
All are correct
To reduce unemployment
To promote people' dreams
11
Organisational structure refers to the levels of management and division of responsibilities within an organisation
True
False
12
The most common objectives for businesses in the private sector are:
business survival, profit and returns to shareholders
Service to the community
all are correct
growth of the business and market share
13
Select joint ventures' advantages
If the new project is successful, then the profits have to be shared
Risks are shared
Only one is responsable of costs
Disagreements over important decisions might occur
14
Span of control is the the number of subordinates working directly under a manager that he can mistreat
False
True
15
Benefits of being an entrepreneur...
lot of knowledge and experience
able to make use of personal interests and skills
have to put their own money into the business
all new entrepreneurs’ businesses success
16
Select the main leadership styles
laissez-faire, autocratic and democratic
autocratic and democratic
laissez-faire leadership
motivational leadership
17
Select methods of motivation
By doing the same every day
Giving gifts to everybody
all are correct
Opportunities for promotion

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