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The Nature of Business Flashcards | StudBud
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The Nature of Business
The Nature of Business
10 terms
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StudBud Administration
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3,640 plays
The introductory topic to the Year 11 Business Studies Preliminary course
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
A company has released new medication for arthritis. Which business role is demonstrated?
<p>Wealth creation</p>
Quality of Life
<p>Choice</p>
Employment
2
What is the main aim of research and development by business?
<p>Lower expenses</p>
Provide greater choice
Provide more employment opportunities
Innovation and hence better products
3
The reason why not all businesses achieve profitability in their first year is...
<p>The location of the business</p>
Lower number of competitors
Skills and training an entrepreneur
<p>The cost of establishing a business,can delaya return</p>
4
What do business ethics relate to?
Fair and appropriate conduct within a business
The legal regulations of the business
The conduct of managers in the business
<p>Managers being responsible for the business</p>
5
How does increased competition in the business environment benefit consumers?
Improving the quality of life and living standards
By developing improved features in goods/services provided
Providing increased employment opportunities
Greater choice of goods/services offered
6
What is the motive for people to invest funds in a business?
Innovation
Wealth creation
Employment
Entrepreneurship
7
Boost releases a new food range for highend buyers, this would relate to which buisness role?
Choice
Employment
Quality of life
Profit
8
Annie decides to open a local health food store In buiness terms, what would Annie be known as?
A Manager
An employee
An entrepreneur
A business operator
9
Which of the following best descibes the concept of a business? An organisation that...
that will achieve a financial return for investors
provides various goods/services to cater for the community
operates to sever the best interest of the community
owned and operated by the government to provide services
10
X Plastic has developed a new product to improveits plastic. Which business role is identified?
Employment
Entrepreneurship
Innovation
Quality of life
