Autocratic Leadership

1 way communication, strong leaders

profit making businesses that maximize benefit for society

2 or more firms setting up a new business

anyone with an interest in a business

Letting workers go to lower costs

typical business objectives

survival, growth, profit, increased reputation, greener

Health and safety, Maximum working hours, Minimum wages, Discrimination laws

the next best alternate forgone

Wages are different to salary because...

Wages are paid only for hours worked

Training at the start of a new job

Permission to use another firm's brand and products

The investors can only lose what they invested

A worker's contract will include

Weekly hours to work, Information of fringe benefits, Notice periods, Rate of pay

are simple businesses with 1 owner -unlimited liability

the difference between raw materials and the selling price

Benefit of on-the-job

Real life experiences in real situations

Extra payment for every unit sold

Advantage of franchise

Tried and tested idea and business

Disadvantage of franchise

More expensive than setting up a new business

Benefit of off-the-job training

Led by professional trainers in a controlled environment

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IGCSE Mock Y10 Epic Quiz!

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Questions 32

Answers

1
Autocratic Leadership
1 way communication, strong leaders
Allowing the workers to complete work how they like
Asking for worker feedback
2
Private limited companies have...
limited liability
unlimited liability
3
Primary industry
car production
banking
oil extraction
retail
4
Social Enterprises
businesses that only focus on benefitting society
businesses that don't make profit
business that follow the single bottom line
profit making businesses that maximize benefit for society
5
Joint Venture
2 or more firms setting up a new business
Can sell shares on the stock market
Owned by one person
Owned by government
6
Stakeholder
anyone with an interest in a business
only the government
only the investors in a business
only the workers of a business
7
Triple bottom line
animals, trees, grass
profit
people, planet, profit
people, pelican, profit
8
Redundancy is...
Recruiting more workers
A method of training workers
Letting workers because they have a bad discipline record
Letting workers go to lower costs
9
Support from government includes
lower subsidies
higher taxes
grants
stricter rules
10
typical business objectives
survival, growth, profit, increased reputation, greener
shrink, bankruptcy, weaker reputation, less green
11
Worker Laws include
Health and safety
Maximum working hours
Minimum wages
Discrimination laws
12
opportunity cost
the next best alternate forgone
the 3rd best alternate forgone
the top choice!
the next best alternate chosen
13
Not a role of management
Commanding
Specialization
Planning
Controlling
14
Wages are different to salary because...
Wages are paid only for hours worked
They're the same
Salaries are paid only for hours worked
Salaries are usually paid for low skill jobs
15
Induction Training
Going off site to learn new skills
Learning by doing with real customers
Training at the start of a new job
16
Franchise
Are good for creative people
2 businesses setting up a new business together
Co-branding a good
Permission to use another firm's brand and products
17
Limited liability
is a feature of sole traders
There is no limit to what shareholders can lose
The investors can only lose what they invested
The investors can lose more than they invested
18
A worker's contract will include
Weekly hours to work
Information of fringe benefits
Notice periods
Rate of pay
19
A typical objectives for very new businesses
Survive
Grow rapidly
Enter foreign markets
Attempt to be market leader
20
Sole traders...
are complicated businesses 1 owner - unlimited liability
are simple businesses with two owners - unlimited liability
are simple businesses with 1 owner -limited liability
are simple businesses with 1 owner -unlimited liability
21
which is not a suitable measure of business size?
number of workers
number of stores
profit
value of output
22
Believed money motivates
Herzberg
Taylor
Maslow
23
An LTD can sell shares on the stock market
True
False
24
Adding value is...
the difference between raw materials and the selling price
the difference between total costs and the selling price
the difference between wages and the selling price
the profit generated from selling goods
25
Benefit of on-the-job
Real life experiences in real situations
May lower customer experience
Trainer may pass on bad working practices
May lack detail
26
Value can be added by all except...
Convenience
decreasing prices
Quality
Branding
27
Commission
Extra payment for every unit sold
Extra payment for every unit made
Payment per hour
A bonus for meeting targets
28
Advantage of franchise
expensive to set up
Tried and tested idea and business
Have to share profits
no freedom to develop new ideas
29
Disadvantage of franchise
More expensive than setting up a new business
Tested idea and products
Help and support
Well known brand
30
Public sector business
Can sell shares on the stock market
Owned by government
Owned by one person
2 or more firms setting up a new business
31
Benefit of off-the-job training
Workers aren't productive
Led by professional trainers in a controlled environment
Doesn't give real experiences or scenarios
Expensive and time consuming
32
Tertiary industry
retail
oil extraction
banking
car production

IGCSE Mock Y10 Epic Quiz! Flashcards | StudBud