Enterprise - Component 1 - Learning Aim A

What is the maximum number of employees an SME can have according to the European Union definition?

• 50

• 100

• 250

• 500

Which of the following is a common feature of SMEs?

• Large market share

• High number of employees

• Limited financial resources

• Global operations

Which type of enterprise is primarily focused on generating profit?

• Non-profit organisation

• Social enterprise

• Profit-making enterprise

• Government agency

What is a key characteristic of a micro-enterprise?

• More than 250 employees

• Annual turnover exceeding £50 million

• Fewer than 10 employees

• Operates in multiple countries

In which sector do enterprises that provide services such as banking and insurance operate?

• Primary sector

• Secondary sector

• Tertiary sector

• Quaternary sector

Which business model involves selling products directly to consumers through an online platform?

• Business-to-Business (B2B)

• Business-to-Consumer (B2C)

• Consumer-to-Consumer (C2C)

• Peer-to-Peer (P2P)

Which industry is primarily involved in the extraction of natural resources?

• Manufacturing

• Retail

• Mining

• Hospitality

What is a common aim of many enterprises?

• Reducing market competition

• Maximising profits

• Limiting employee growth

• Minimising customer satisfaction

Which activity is typically associated with enterprises in the secondary sector?

• Farming

• Manufacturing

• Retailing

• Consulting

Which skill is essential for entrepreneurs to effectively manage their business?

• Inability to take risks

• Poor communication

• Financial management

• Lack of creativity