WorksheetsFriday Review
Total questions: 8
Worksheet time: 5mins
What do a business and a franchise have in common?
(a)
What is not the pro of starting a franchise?
offers continuing support
higher rate of success
has ongoing royalty and ad fees
brand has loyal customer base
What is the difference between an entrepreneur and a person who wants to open a business?
small business owners are more willing to take unknown risks
an entrepreneur wants to just make money
entrepreneurs are not always interested in taking on new business opportunities
small business owners are not always interested in taking on new business opportunities
What is entrepreneurship?
marketing and selling products
setting up a business with the aim to make a profit
acquiring leadership and managerial skills
quickly advancing in positions within a corporation
Tim purchased a movie from Amazon. He received immediate access to the movie. What type of e-commerce product did Tim purchase?
wholesale
market
digital
physical
Appliance World is a top rated appliance manufacturer. Super Steel supplies metal to Appliance World to build their appliances. What type of transaction is his?
digital
B2C
B2B
Physical
What are the 3 disadvantages of selling a physical product?
needing staff to track the supply
physical products tend to have a lower value
shipping and packaging costs
needing storage space
A common financial risk that entrepreneurs encounter is
bankruptcy
high insurance costs
high maintenance costs
high taxes
