Attitudes towards health and fast food is an example of

changes in consumer tastes / fashion

the difference between revenue and costs

Which best describe the full role of an entrepreneur

organise resources to make goods people want

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1.1 Enterprise and Entrepreneurship

15 termsStudBud Administration146 plays

Based on GCSE Business with Edexcel

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Questions 15

Answers

1
creating an image for a product that sets it apart from competition is called .... .
ensuring quality
advertising
branding
good design
2
Which of the following is NOT considered a financial reward
large market share
independence
large profit
sales revenue
3
Which of the following will NOT help guard against risk?
market research
limited liability
starting as a sole trader
taking good advice / getting a good partner
4
A product
is a good or a service
are physical
can always be wrapped up in paper
is anything sold in a shop
5
Business ideas are generated because of .... Which one NOT true
changes in technology
changes in consumer tastes
outdated goods and services
people like change
6
The four factors of production are capital, land, labour and
enterprise
money
luck
hard work
7
Which of the following is NOT associated with adding value?
Branding
improving the design & quality
Making it convenient
becoming a plc
8
Attitudes towards health and fast food is an example of
changes in consumer tastes / fashion
products becoming obsolete
outdated goods or services
new technology
9
Profit is
the only reason to start a business
turnover minus variable costs
the difference between revenue and costs
turnover minus total costs
10
Which word describes a business / environment that is constantly changing
bubbly
ever-moving
effervescent
dynamic
11
Which of the following does not (ever) sell goods
Santander (Bank)
A football Club
Ford
Tesco
12
Which of the following is NOT considered a risk to an entrepreneur
losing money invested
wasting valuable time doing something that fails
lack of security - perhaps from losing original job
not having any good ideas
13
the growth of the internet enables
more competitive (lower) pricing
businesses to access a larger marketplace
better research on what is available
all of the above
14
Which of the following is NOT a typical reason for business failure
no USP over competition
poor decision making
no GCSE in business
not understanding the market / meeting needs
15
Which best describe the full role of an entrepreneur
produce the goods himself to sell
organise resources to make goods people want
provide the money that is needed to start the business
sell goods to as many people as possible

1.1 Enterprise and Entrepreneurship Flashcards | StudBud