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