Industrialisation is the term used to describe the growing importance of the:
Primary sector
Secondary sector
Tertiary sector
Quaternary sector
Who has an idea for a new business?
Producer
Consumer
Entrepreneur
Creditor
The value added by the business, other costs have to be paid, such as labour and rent value added is not the same as:
Profit
Loss
Both 1 & 2
Revenue
The entrepreneur may avoid the cost of:
Buying
Selling
Forfeiting
Which of the following is always a problem for new enterprises?
Motivation
Planning
Competition
Commitment
Who decides on the business idea or opportunity?
Shareholder
What are the factors of production?
Land, labour and enterprise
Land and capital
Land, capital and enterprise
Land, labour, capital and enterprise
Business have many other needs before they can successfully produce the goods and services demanded by:
Producers
Consumers
Labourers
Debtors
Which of the following are the physical goods used by industry to aid in the production of other goods and services?
Producer goods
Consumer goods
Capital goods
Industrial goods
In order to see results, entrepreneurs must be willing to take:
Risk
Obligation
