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Revision of Topic One

Authored by Lois Slater

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12th Grade

Used 5+ times

Revision of Topic One
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26 questions

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1.

FILL IN THE BLANK QUESTION

20 sec • 5 pts

An entrepreneur is a person who starts their own business – accepting r...s and hoping for a reward.

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

What is the tertiary industry?

Working with the extraction of raw materials

Making things by manufacturing and construction

ICT and Research Development

Providing a service

3.

FILL IN THE BLANK QUESTION

20 sec • 5 pts

The transformation process describes what happens inside the business. This is were v...e is added to inputs to create outputs.

4.

FILL IN THE BLANK QUESTION

30 sec • 5 pts

Mission statements are different than objectives. A mission statement is a qualitative statement of an organisation’s aims that uses language intended to motivate employees and convince stakeholders of the firms sincerity and commitment. While objectives are specific g...s that provide a path for achieving the vision.

5.

FILL IN THE BLANK QUESTION

20 sec • 5 pts

Goals that must be achieved in order to realise the stated aims of an organisation. Objectives must c.....e down the organisation.

6.

FILL IN THE BLANK QUESTION

20 sec • 5 pts

Some firms set objectives that involve achieving a minimum level of profit, allowing the business and its managers to focus on other o........s

7.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

When can survival become a key issue, even for large businesses?

Times of crisis, such as during a hostile takeover bid

When there is more spending in the economy

Periods of recession or intense competition

When a business is launching a new product

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