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Unit 1.1 Intro to Business Flashcards | StudBud
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Unit 1.1 Intro to Business
Unit 1.1 Intro to Business
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Questions
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Answers
1
Manual and skilled labour make up the workforce of the business.
Land
Capital
Labour
2
Firms that manufacture and process products from natural resources
Primary
Secondary
Tertiary
3
People start up their own business to be their own boss, to work harder not smarter, flexibility, and family tradition.
True
False
4
_______ handles issues such as recruitment, dismissal, training, staffing, performance mgmt. of the firm's employees.
Enterprise
Marketing
Human Resource
5
This function of the finance department is to manage the organization's money.
Operations Management
Marketing
Finance & Accounts
6
Land is the natural resources used in the production process
True
False
7
____________Responsible for
ensuring adequate resources are available for production and maintaining production.
HR
Operations Management
Marketing
8
Enterprise is the driving force of business, provided by risk-taking individuals
False
True
9
What are the four main business inputs
Land, Money, Fun, Surprise
Land, Labour, Ethnics, Enterprise
Land, Labour, Capital, Enterprise
10
Firms that provide services to consumers and other businesses, such as retailing, transport, education, banking is ....
Secondary
Tertiary
Quaternary
11
Primary Sector is the last stage of production.
False
True
12
Intrapreneurs do not risk their own capital and the consequences of failure are accepted by the organisation
False
True
13
_________ is someone who takes the financial risk of starting and managing a new venture
Teacher
Entrepreneur
Employee
14
Any organization set up to provide goods and/and or services.
Human Resource
Business
Economics
15
What is NOT an example of capital?
Equipment
Water
Machinery
16
What is not a skill for an entrepreneur?
Time Management
Leadership
Laziness
Disciplined
17
___________ conducts market research to identify the consumers needs and wants, responsible for advertising.
Operations Management
Finance & Accounts
Marketing
18
What is not one of the 6 Key Concepts in Business ( C.U.E.G.I.S.)?
Equality
Globalization
Change
Culture
