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Edexcel A Level Business - 1.5 Entrepreneurs and leaders Flashcards | StudBud
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Edexcel A Level Business - 1.5 Entrepreneurs and leaders
Edexcel A Level Business - 1.5 Entrepreneurs and leaders
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#Edexcel A Level #Business - 1.5 Entrepreneurs and leaders - Theme 1
Flashcards
18 cards
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Questions
18
Answers
1
Which of the following is a financial motive for entrepreneurship?
Dividends
Social entrepreneurship
Independence and home working
Ethical stance
2
When a business sells the right to use its name and goodwill in return for a series of fees:
Offshoring
Outsourcing
Franchising
Sale and leaseback
3
When one person has complete ownership and control of an unincorporated business:
Sole trader
Private limited company
Public limited company
Partnership
4
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
5
Observations are a source of business ideas
False
True
6
Which of the following forms of business can advertise shares for sale on the stock market?
Public limited company
Private limited company
Sole trader
Partnership
7
Which of the following forms of business gives owners limited liability?
Ordinary partnership
Private limited company
Sole trader
Public limited company
8
The benefit forgone from not following the best alternative course of action:
Opportunity cost
Opportunity lost
Trade-off
Trade-down
9
Starting a lifestyle business with limited growth potential to pursue an interest or hobby.
Profiteering
Profit creation
Profit maximisation
Profit satisficing
10
A business which seeks to make a profit, but which has primarily social objectives is known as:
Private limited company
Social enterprise
Public limited company
Sole trader
11
A manager who works within a business and promotes innovation and new ideas:
Entrepreneur
Iterpreneur
Extrapreneur
Intrapreneur
12
What are the characteristics of a successful entrpreneur?
Self-starting and decisive
Having a vision
results orientated
Not being resilient
13
Where having more of one thing potentially results in having less of another:
Opportunity lost
Trade-down
Trade-off
Opportunity cost
14
Cost efficiency is likely to result in which benefit to the business?
Improved value added
Better employee welfare
Reduced price elasticity of demand
More competitive pricing
15
When two or more people share ownership and control of an unincorporated business:
Private limited company
Public limited company
Sole trader
Partnership
16
What is the role of an entrepreneur?
Acts as a catylyst for the creation and growth of new enterprises
Takes calculated risks to gain returns
Not think about about goal setting
Spots business opportunities
17
Which of the following is
not
a barrier to entrepreneurship?
Risk aversion
Lack of experience in the market
Trade liberalisation
Corrupt and unsupportive business environment
18
A business objective based on increasing sales relative to competitors is known as:
Sales maximisation
Cost efficiency
Market share
Customer satisfaction
