Introduction to Business

The automotive industry is responsible for transforming raw materials such as steel, plastics and other components into finished vehicles through assembly and manufacturing processes.

¿What sector does it belong to?

• Primary

• Tertiary

• Secondary

• Quaternary

What is the definition of enterprise inputs?

(a)  

Which are the four key functions of business?

• Human resources, partnership, leadership, marketing.

• Human resources, marketing, finance and accounts, operations management or production.

• Marketing, human resources, development, partnerships.

• Human resources, leadership, finance, marketing.

The definition of consumer goods is "Consumer goods are physical products intended for final consumption by individuals or households rather than for use in the production of other goods or services"

• True

• False

Which of the following is NOT an example of a capital good?

• A delivery truck used by a logistics company.

• A machine in a factory assembling smartphones.

• A loaf of bread sold in a bakery.

• A computer used by a graphic designer for client work.

What is a sole trader?

(a)  

It is an organization that uses business strategies to achieve social or environmental goals, reinvesting profits to further its mission

• Public Limited Company

• Non-profit social enterprise.

• Cooperative Society.

• Profit social enterprise.

What is an objective?

• Purpose of the business.

• Future goal or aspiration.

• Specific, measurable targets.

• Broad, long-term goals.

What is the main difference between a privately held company and a publicly held company? 

• Privately held companies have more shareholders.

• Privately held companies have more ardurous reporting requirements.

• Privately held companies must disclose more financial information.

• Privately held companies can only sell shares privately.

1. Shareholders in a company have no say in the decisions of the business.

• True

• False