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