Y10 Business Unit 1 terms so far......

Which of the following terms describes unlimited wants but limited resources?

• The factors of production

• Target market

• The Economic Problem

• Needs

Which of the following is not a factor of production?

• Land

• Cash flow

• Capital

• Enterprise

If the selling price of a new villa is $250,000 and the value of the bricks and tiles and all materials adds up to $45,000, what is the added value?

• $295,000

• $205,000

• $45,000

• -$45,000

Which industrial sector would you classify a cotton farmer as?

• Primary

• Secondary

• tertiary

Which of the following is not an advantage of running your own business?

• Independence to choose hours

• High risk

• Able to keep profits if any

• Can follow own ideas

Who is this?

• Richard Branson

• Miss Lea's best friend

• Mark Zuckerberg

• Steve Wozniak

Which of the following is not commonly referred to as a key characteristic of a successful entrepreneur?

• Rich

• Hard working

• Resilient

• Willing to take a risk

An Advantage of operating as a sole trader is:

• Lots of money can be raised selling shares

• Sharing the risk with partners

• Being able to decide your own work hours

• Sharing decision making

What is the name of the meeting where shareholders get to vote for the directors who run the business?

• AGM

• Deed of partnership

• Voting meeting

• VSM

Which of the following is unincorporated?

• Sole Trader

• Private Limited Company

• Public limited company

• Co Operative