Business Revision

Full time, part time and casual are examples of?

• Employee pay rates

• Employee entitlements

• Types of employeement

• Factors of influence

Select all the of the following that are factors of influence in choosing a company product.

• Value for money

• Convenience

• Social and ethical

• Environmental

• Job security

What are stakeholders?

• Anybody who knows the name of the business
• Anybody who takes an interest in a business
• Anybody who works for the business
• Anybody who buys from the business

Which of the following is defined as a businesses operating policies and procedures and include plan for growth and expansion?

• Executive summary

• Executive initiative

• Strategic operations procedure

• Strategic guidelines

Which of the following is NOT included in a business plan?

• Finances

• Vision statement

• Executive summary

• Building layout

An increase in morale and motivation can lead to what?

• Reduction of costs

• Improvements in quality

• Increased productivity

• Decreased productivity

Sponsorship is defined as:

• Financial support from an external benefactor

• Promoting a product through various formats

• A form of public support or approval

• Financial gain through sales

Inflation is

• how fast prices are rising in the economy

• how fast unemployment is rising in the economy

• how fast economic growth is occurring

• how fast stock prices are rising

Inflation is generally calculated

• annually

• monthly

• weekly

• daily

A business owned and run by 2 or more people is called...

• Partnership
• Sole Proprietorship
• Corporation