Revision (Business Management)

A business is defined as ________________.

• the qualities and skills needed to start up and create a new business venture.

• an organization or enterprising entity engaged in commercial, industrial, or professional activities.

• industries that extract raw materials for other sectors of the economy.

A ________ occur when expenses exceeds revenue of company

• profit

• expenses

• cost

• loss

Which of the following is NOT the purpose of a business?

• Provides goods or services to customers

• Pay taxes on profits and collect taxes on behalf of government

• Create wealthy by providing return on investments

• To increase expenses

_________ is changes in the business environment which can reduce or replace the need for traditional working methods, physical equipment, and other platforms needed to conduct business.

• Technological environment

• Economic environment

• Political environment

• Natural Environment

PEST analysis consist of political, environmental, social and technological analysis

• True

• False

Which of the following is NOT included in factors of production?

• Land

• Cost

• Labor

• Enterprise

_________ is a risk takers who provide an impetus for change, innovation, and progress.

• Stakeholders

• Entrepreneurs

• Managers

• Supervisors

What is 'Administrative Entrepreneur' ?

• A person who brings a new firm into existence.

• An entrepreneur who overseas the operations of a ongoing business

• An entrepreneur whose power is limited by the contractual relationship with a franchising organization

• Two or more people who work together as entrepreneurs

Which of the following is NOT the example of Artisan Entrepreneurs?

• Fashion designers

• Homeware design

• Watchmaking

• Agents of cosmetics

Walt Disney Company is the example of _________.

• Vertical integration

• Horizontal integration

• Backward integration

• Conglomerate integration