

3.1 What is business?
Flashcard
•
Business
•
11th Grade
•
Practice Problem
•
Hard
Annalise Slatter
Used 3+ times
FREE Resource
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51 questions
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1.
FLASHCARD QUESTION
Front
What is the dynamic nature of business influenced by?
Back
The dynamic nature of business is influenced by technology, taste, and internal and external factors.
2.
FLASHCARD QUESTION
Front
Why do people start businesses?
Back
People start businesses to make a profit, gain independence, and achieve personal goals.
3.
FLASHCARD QUESTION
Front
What are some qualities of successful entrepreneurs?
Back
Successful entrepreneurs are often leaders, adaptable, quick, resilient, and risk-takers.
4.
FLASHCARD QUESTION
Front
How can added value be achieved?
Back
-Can be achieved through branding, quality, convinience and service.
-The more value a business can add to its products, the more competitive it is
5.
FLASHCARD QUESTION
Front
How does Mc Donald' have added value?
Back
-through a strong global brand, when people see the big golden arches, they understand.
-Convinience and speed of service
6.
FLASHCARD QUESTION
Front
Why do new business ideas come about?
Back
New business ideas come about due to demand and obsolescence.
7.
FLASHCARD QUESTION
Front
What are the classifications of business sectors?
Back
Business sectors are classified into primary (raw materials), secondary (manufacturing), tertiary (services), and quaternary (IT).
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