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