Business Unit 1+3 Condensed Notes

Is a business a type of organization?

• True

• False

Are the main inputs in a business Capital, Land, Raw materials, and Labor/manpower?

• True

• False

Are the main business functions and their roles Human resources, Finance and accounts, Marketing, and Operations?

• True

• True

Are there different business sectors?

• True

• True

What is the impact of sectoral change?

• True

• False

Are there reasons for starting up a business or an enterprise?

• True

• False

Are the common steps in starting up a business and problems new ones may face true or false?

• True

• False

What is a business plan?

• True

• False

Are the elements of a business plan True or False?

• True

• False

Are the types of for-profit/commercial organizations limited to Sole trader, Partnership, and Private limited company (LTD)?

• True

• False