Business & Economics revision year 8

What does 'entrepreneur' mean?

• businessman/woman

• A business

• A factory

• A technique

Setting the right goals is very important for businesses to succeed. A technique that is often used to achieve this is known as _____ goals

An example of a non-financial goal is

• Earning more money

• Staff discounts

• Gaining new skills

• Increasing sales

What makes an 'entrepreneur' successful?

• Someone who is willing to take risks

• Someone who is cool

• Someone who has money

What do socially responsible businesses try to achieve?

• They try to make more money

• They underpay their workers

• They aim to increase customer satisfaction

• They try to have a positive impact on the environment and the community

If a customer breaks their phone, do they have the right to a refund, repair or replacement?

• No, because it is the consumers fault

• Yes, because they are protected by the ACCC law

What are two reasons that make artificial intelligence popular?

• Because it is cool

• Because it is easy to build

• Because it can reduce workload

• Because it can help people who are disabled or have an impairment.

What does 'outsourcing' mean?

• Buying products or services oversease for reduced costs

• Sweatshops

• Travelling overseas

• To make products international

What should NOT affect a person's income?

• Their level of qualification

• Their work ethic/skills

• Their experience

• Their cultural background

What is the maximum amount of money a person needs to make to start getting taxed?