Intro to business

Which one categorize as service in the business?

• Teacher's laptop

• Student's chair

• Doctor

• Principal's umbrella

In the factor of production I can be the money or can be assets used for production, what am I?

• Labour

• Capital

• Land

• Entrepreneurship

My function is managing people in organization, what department am I?

• Finance

• Marketing

• Human Resources

• Operation

I work as a teacher, what sector I belong to?

• Primary

• Tertiary

• Quaternary

• Secondary

All of them can be my reason to change the sector in the business, except?

• capital-intensive industries

• increasing employment

• Decrease in GDP/living standards

• urbanisation

This can be my reason to start the business, except!

• spot a gap in the market

• believe they can produce a good or service better than their

  competitors

• want to earn a profit and possibly ‘get rich'

• Better than doing nothing

Which one can be a problem in the business

• Prepare business plan in detail

• Save extra money for contingency planning

• Poor location as the result of a lack of finance.

• Fulfil the legal requirements