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Nat 5 Business (Understanding Business) Flashcards | StudBud
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Nat 5 Business (Understanding Business)
Nat 5 Business (Understanding Business)
16 terms
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Unit 1 of Nat 5 Business
Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
What is the definition of a Third Sector?
Only care about the people who are rich
Making a large amount of profit
Here to help the wealthy people
Non- profit making Organisation
2
Name the Internal Factors
Financial, Management and Co-operation
Employees, Managers, Workforce and Existing Technology
Financial, Employees, Management and Existing Technology
3
What is a Sole Trader?
A business owned by Directors
A business owned by shareholders
A business owned by one person
A business Owned by 2 or more people
4
Name the Sectors of Industry?
Tertiary , Primary, Secondary
Primary, Private, Tertiary
Primary, Secondary, Public
Secondary, Primary Third
5
What is an Advantage of a Partnership?
All the profit is kept by one person
There is no one to share the workload with
Different Partners often bring different experiences
Finance can be raised more easily
6
How many Stakeholders exist?
10
8
12
4
7
Name 3 Stakeholders
Owners, Employees and Customers
Customers, Windows and Cars
Sea, Rail, Air and Road
8
Give an example of a Third Sector Organisation
ASDA
Charities
Oxfam
School
9
Name the Sectors of Economy?
Private, Secondary, Third
Primary, Secondary, Third
Private, Public, Third
Third, Private, Tertiary
10
What are PESTEC factors of?
External Factors
Internal Factors
Internal and External Factors
11
What is an interest of an Owner?
Wants his business to succeed
Wants to make a High Profit
Does not want to be socially friendly
Wants to make a low Profit
12
Who owns the Public Sector Organisation
ShopKeepers
Government
Teachers
Public
13
What are the Factors of Production?
Land, Labour, Capital, Envelope
Land, Housing, Boat, School
Labour, Land, Enterprise, Money
Land, Labour, Capital, Enterprise
14
What are the Advantages of a Sole Trader:?
Do not have to pay any Tax
Easy to set up
All the profits are kept by the owner
All the profit is spilt between shareholders
15
What is the Aim of a Private Sector?
Not to Survive
To Fail
To make Low Profits
To Grow
16
What is the Aim of a Public Sector?
To Make Profit
To be Socially responsible
To provide a Service
To survive
