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People in Business
People in Business
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Unit 1 chapter 1 Leaving Cert Business
Flashcards
63 cards
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Practice quiz
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Questions
63
Answers
1
employers and employees only ever have a cooperative relationship
false
true
2
a producers makes....
money
rules & regulations
services
raw materials
3
a consumer buys goods or services?
true
false
4
How many remedies for breach of contract are there?
5
3
2
none
5
all business contracts are legally binding
true
false
6
an unforeseen event e.g. death or bankruptcy or flooding that ends a contract is known as;
breach
agreement
frustration
specific performance
7
rescinding the contract means
the contract is cancelled
the contract has to be followed
the judge is ignored
compensation is paid
8
suing for damages means
the judge orders the contract to be carried out
the judge orders compensation to be paid
the judge orders both sides to pay money
the judge orders the contract to be cancelled
9
agreement happens
when one person breaks the contract
the contract has been fulfilled
both parties decide to end the contract
unforeseen event has taken place
10
A win - win relationship is
competitive
cooperative
dynamic
11
one person breaking the contract is known as
frustration
agreement
breach
specific performance
12
How many ways are there to terminate a contract?
5
2
3
4
13
an offer is asking somebody to enter into a deal
true
false
14
an offer can't be made by
by conduct
price tag
written
orally
15
What is a business?
an enterprise which provides goods or services
a social club
an enterprise set up to make a profit
a bit of craic in the evenings
16
quid pro quo is related to which element of a contract?
acceptance
legality of purpose
offer
consideration
17
Threatening somebody to enter into a contract makes it legally binding
false
true
18
a consumer buys goods and services for their own use?
false
true
19
specific performance means
compensation is paid
the judge cancels the contract
the judge order the contract to be fulfilled
20
Manchester United and Chevrolet have which kind of relationship ?
competitive
cooperative
dynamic
21
Can you can end up in court if you break a contract?
true
false
22
a contract must be written
false
true
23
a concert being cancelled due to a storm is an example of
breach
frustration
agreement
performance
24
legality of purpose means all written contracts are legal
false
true
25
a manager's job is to make day to day
products
money
decisons
26
How many elements of a contract are there?
6
8
9
5
27
what is the name of the people affected by how the business is run?
stakeholders
steakholders
28
spot the odd one out
greenpeace
ESB
IBEC (Irish Business and employers confederation)
TUI(Teachers union of Ireland)
29
all social arrangements are legally binding
true
false
30
when you agree to all the terms of a contract this is known as
capacity
acceptance
agreement
offer
31
when a manager shares out jobs to be done this is called
dalagation
being lazy
being bossy
delegation
32
to have intention to contract you have to sign a contract
false
true
33
some contracts must be written to be legal
true
false
34
a sign in a shop window is an offer
false
true
35
entering the contract of your own free will relates to which element of a contract?
consent
offer
acceptance
capacity
36
Ultra vires relates which element of a contract?
offer
acceptance
capacity
consideration
37
if an offer of €1500 is accepted for a car how much is the consideration?
500
1500
2000
1000
38
people under the age of 18 can enter into a contract
false
true
39
which of the following is not an entrepreneur?
Bill Gates
Richard Branson
Mark Zuckerberg
Mr. Bean
40
which of the following is not a service provider
ESB
farmer
accountant
lawyers
41
choose the odd one out
annoyance
performance
agreement
frustration
42
a relationship that is constantly changing is
dynamic
competitive
cooperative
43
an invitation to treat is asking somebody to enter into a deal
true
false
44
a win lose relationship is
cooperative
dynamic
competitive
45
Which of the following is not a stakeholder of a business
investor
next door neighbour
employer
entrepreneur
46
when a party rejects the terms of an offer and tries to change them this is called a
counter-offer
deal
acceptance
offer
47
Aer lingus and Ryanair have which kind of relationship?
dynamic
competitive
cooperative
48
An investor provides what for a business
money/capital
raw materials
profit
services
49
spot the odd one out
rescind the contract
agreement
specific performance
sue for damages
50
which of the following is not an element of a contract?
acceptance
offer
invitation to treat
agreement
51
something of value passing between the two parties is which element?
intention
consideration
offer
capacity
52
breach of a warranty terminates a contract
false
true
53
performance means....
both sides forget about the contract
the contract has been fulfilled
both sides carry out the contract and the contract is over
one person broke the contract
54
breach of a condition terminates a contract
true
false
55
which of these contracts does not need to be written
buying a car
insurance policies
buying a house
hire purchase
56
if a footballer misses a match this is a breach of
warranty
condition
57
a band playing a concert and being paid is an example of
frustration
breach
performance
agreement
58
An Entrepreneur spots a .......... in the market
opportunity
risk
idea
gap
59
rescinding the contract means the contract is ended
true
false
60
which group of people can't enter a contract?
reverants
engineers
teachers
diplomats
61
if a footballer misses a training session this is breach of a
condition
warranty
62
a bank is an investor
false
true
63
a contract is a legally binding agreement between two or more parties
false
true
