Business activity exists to produce:
Consumer goods
Producer goods
Capital goods
Service goods
The long term strength of the business will depend on:
Encouraging customers to return to purchase products
Lack of sufficient own finance
Lack of awareness of the financial support
Small budget market research
What are the factors of production?
Land, labour and enterprise
Land and capital
Land, capital and enterprise
Land, labour, capital and enterprise
In order to see results, entrepreneurs must be willing to take:
Risk
Motivation
Planning
Obligation
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
Social enterprises compete with other business in the:
Same market or industry
Different market or industry
Same market or agricultural sector
Commercial sector
Which of the following are the physical goods used by industry to aid in the production of other goods and services?
Industrial goods
Who decides on the business idea or opportunity?
Entrepreneur
Producer
Consumer
Shareholder
The entrepreneur may avoid the cost of:
Buying
Selling
Forfeiting
Any increase in output of goods or services from a start up business will increase the gross domestic product of the country. This is termed as:
Economic development
Economic growth
Economic planning
Globalisation
