What is a want? (definition)

A desire that is not essential for survival

Which of these is a positive for SMEs?

SMEs provide many jobs -> less unemployment and more tax for government

Within the secondary sector where do people work?

Construction, car manufacturing, textile production, furniture making

Which of these is a characteristic of an entrepreneur?

Being very hardworking and being a risk taker

What is a need? (definition)

Something essential for survival

What is an enterprise? (definition)

The formation of a new business or development of a new service to a market

Which of these is a negative of SMEs?

SMEs provide lots of competition -> SMEs may struggle to compete

Which is apart of the role of being an entrepreneur when creating and setting up a business? (3 are correct)

Generating ideas for a business, Raising finance, Carrying out market research

What are the characteristics of an SME? (small and medium sized enterprises)

Less than 250 workers - less than 50m (euro) in turnover

Which sector of work is increasing in numbers?

Teritary sector - organisations that provide services to consumers

What is a business opportunity? (definition)

A gap within a market that can filled by creating a business

Within the tertiary sector where do people work?

Hairdressers, hotels, restaurants, banks, cinemas

What is an entrepreneur? (definition)

Someone who uses an idea to start a business with financial risk for profit

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Enterprise EDUQAS Business A level

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EDUQAS BUSINESS A LEVEL- ENTERPRISE

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Questions 21

Answers

1
What is a want? (definition)
Something you want
A desire that is not essential for survival
Something needed for survival
2
Which of these is a positive for SMEs?
SMEs have a higher chance of dissolving in a crisis
Harder to get loans as an SME due to risk
SMEs provide many jobs -> less unemployment and more tax for government
Larger corporations are more stable -> eg. SMEs may have less funding
3
Profit = sales revenue - total costs
False
True
4
The role of an entrepreneur is only relevant to the creating of a business
True
False
5
Within the secondary sector where do people work?
Construction, car manufacturing, textile production, furniture making
Hairdressers, hotels, restaurants, banks, cinemas
Mining, fishing, forestry, farming
6
Which of these is a characteristic of an entrepreneur?
Being innovative
Having no creativity
Being unorganised
Having no interest in work
7
Which of these is a characteristic of an entrepreneur?
Not being proactive
Being unorganised
Being very demotivated
Being very hardworking and being a risk taker
8
Which one isn't a skill of an entrepreneur?
Problem solving
Literacy
Being innovative
Numeracy
9
SMEs are 99% of all businesses in the EU
False
True
10
What is a need? (definition)
Something you desire
Something essential for survival
Something you can't stop thinking about
Something you really want
11
What is an enterprise? (definition)
Someone who uses an idea to start a business with financial risk for profit
The formation of a new business or development of a new service to a market
A building that a business uses
The process of entering the prize pool of the business
12
Which of these is a negative of SMEs?
Provides lots of jobs -> less unemployment and more taxes for government
SMEs can introduce new technology and innovation -> eg. Dyson
SMEs provide lots of competition -> good for consumers in terms of choice
SMEs provide lots of competition -> SMEs may struggle to compete
13
Which is apart of the role of being an entrepreneur when creating and setting up a business? (3 are correct)
Generating ideas for a business
Raising finance
Carrying out market research
Firing workers
14
What are the characteristics of an SME? (small and medium sized enterprises)
Less than 250 workers - less than 50m (euro) in turnover
More than 10,000 workers - more than 100m (euro) in turnover
More than 250 workers - more than 50m (pounds) in turnover
Less than 10,000 workers - less than 100m (euro) in turnover
15
Within which sector of work is mining, fishing, farming and forestry?
Secondary sector
Primary sector
Tertiary sector
16
Which sector of work is increasing in numbers?
Teritary sector - organisations that provide services to consumers
Secondary sector - turns raw materials into finished products
Primary sector - extract natural
17
What is a business opportunity? (definition)
Having the opportunity to do business with someone
Being an entrepreneur and selling a product successfully
A gap within a market that can filled by creating a business
Producing an opportunity for a business and its workers
18
Within the tertiary sector where do people work?
Hairdressers, hotels, restaurants, banks, cinemas
Construction, car manufacturing, textile production, furniture making
Mining, fishing, forestry, farming
19
What is an entrepreneur? (definition)
Someone who is entering a new job role
Someone who uses an idea to start a business with financial risk for profit
A person who owns an enterprise and has complete ownership
The building that a business uses to sell their products / service
20
Which of these is a non financial motive of becoming an entrepreneur?
Having a positive impact
Generating a potentially infinite income
Making a profit
Generating a stable income
21
Which of these is a financial motive of being an entrepreneur?
Turning a hobby into a business
Working for yourself
Generating a stable income
Having a positive impact

Enterprise EDUQAS Business A level Flashcards | StudBud