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Y9 bus entrepreneurs Flashcards | StudBud
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Y9 bus entrepreneurs
Y9 bus entrepreneurs
15 terms
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StudBud Administration
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218 plays
about entrepreneurs and businesses
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
2 most important things every entrepreneur does is to:
choose name and slogan
make profit and cut costs
get money for start and choose the name
make decisions and take risks
2
If there is a chance, that what you do, might bring different results than expected, than you
are marketing
must cut costs
need to change your decision
take risk
3
Why a business might want to specialise?
to give more jobs to people
to lower costs
to make more variety of products
to advertise easier
4
Most businesses set up to
take risks
take chances
make decisions
make profit
5
Another word for income is :
price
value
volume
revenue
6
When answering abcd question what is the risk of choosing incorrect answer (you shoot)
50%
it depends
75%
25%
7
What is not a decision of entrepreneur ?
setting the right price
setting opening and closing time for the shop
choosing ingredients for production
location
8
Which one is NOT our need :
food
clothes
cell phone
water
9
All businesses face risk of low or no demand. How can we minimize this risk?
make sure you have enough money
do market research and raise price
raise price and promote your product
do market research, have USP and promote your product
10
When a company makes only one product or service because it is more efficient, it is called...
barter
specialisation
satisfying the need
distibution
11
Final price of the product is made up of : all of the inputs (cost) to make a product plus ...
income
reward for a company for adding value
fixed cost
variable cost
12
What is NOT a good idea when you compete with other business and want to attract customers?
lower price
customize your product or find a unique selling point
promote your business by advertising it in local newspaper
raise price
13
When supply is higher than demand, we have:
shortage
surplus
equilibrium
empty shelves at the market
14
What does "to go bankrupt" mean ?
borrow money from the bank
go to look for money for your business
rupt the bank
lose all money and close a business
15
A type of trade when products or services are exchanged without the money is called...
barter
efficient trade
exchange
non profit trade
