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