Secondary PSHE - Business

The video tutorial discusses the concept of profit in business, explaining how it is the money made after expenses. It highlights the qualities of a successful business person, such as confidence, leadership, and communication skills. The tutorial also addresses potential challenges and risks in business, including financial mismanagement and bankruptcy.

What is the primary expectation when investing in a business?

• To break even

• To earn less than invested

• To lose money

• To earn more than invested

Which of the following is NOT a quality of a good business person?

• Confidence

• Inability to cope in difficult situations

• Leadership skills

• Good communication

Why is market knowledge important for a business person?

• To focus solely on profit

• To ignore competitors

• To avoid teamwork

• To understand customer needs and trends

What can happen if a business fails to calculate profit and loss accurately?

• It will always make a profit

• It will automatically succeed

• It may face financial losses

• It will never face bankruptcy

What is a potential consequence of poor financial management in a business?

• Unlimited growth

• Increased profits

• Guaranteed success

• Bankruptcy