Business Revision

One drawback to a business if a tariff is placed on the raw materials it imports is:

• Increased production costs

• Improved product quality

• Decreased market competition

• Enhanced customer satisfaction

One benefit to a business from exporting its products is:

• Increased market reach

• Higher production costs

• Decreased brand visibility

• Reduced customer base

One benefit to a business of using loan capital as a source of finance is:

• It does not dilute ownership.

• It provides tax benefits.

• It is a permanent source of capital.

• It requires no collateral.

One drawback to a business of using batch production is:

• Increased storage costs

• Improved product quality

• Faster production times

• Lower labor costs

One impact improved technology may have on a business is:

• Increased operational efficiency

• Decreased customer satisfaction

• Higher employee turnover

• Reduced market share

Q6. One reason why an entrepreneur would produce a business plan is:

• To secure funding from investors

• To hire employees

• To increase product prices

• To reduce competition

​ (a)   may arise between ​ (b)   seeking maximum profits and ​ (c)   desiring higher wages or better ​ (d)   . This tension can lead to disagreements over ​ (e)   allocation and company policies.

• Conflicts
• shareholders
• employees
• working conditions
• resource

One objective of employees may be ​ (a)   as they seek stable ​ (b)   and consistent ​ (c)   This drives them to perform well and contribute ​ (d)   to the organization's ​ (e)  

• High salary

• Flexible hours

• Remote work

• job security,
• employment
• income.
• positively
• goals.

One advantage to a business of providing ongoing training to its employees is:

• Increased employee turnover

• Higher operational costs

• Improved employee skills and productivity

• Decreased employee satisfaction

One drawback to a business of not being able to retain its employees is:

• Increased training costs for new employees

• Improved employee morale

• Decreased customer satisfaction

• Higher employee retention rates