Who decides on the business idea or opportunity?
Consumer
Producer
Entrepreneur
Shareholder
Who has an idea for a new business?
Creditor
Business have many other needs before they can successfully produce the goods and services demanded by:
Producers
Consumers
Labourers
Debtors
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
The starting and managing of a successful business and aiding in the development of useful skills is termed as:
Economic development
Economic growth
Personal development
Global development
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 planning
Globalisation
Which of the following is always a problem for new enterprises?
Motivation
Planning
Competition
Commitment
What are the factors of production?
Land, labour and enterprise
Land and capital
Land, capital and enterprise
Land, labour, capital and enterprise
Who will have to make the product, promote it, sell it and count the money?
A business with mainly social objectives that reinvest most of its profits into benefiting society rather than maximizing returns to owners, is termed:
Business enterprise
Economic enterprise
Social enterprise
Cultural enterprise
