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WorksheetsBS - Key Terms
Total questions: 13
Worksheet time: 7mins
Define the term 'motivation'
Motivation is the reason why the employees earnsalary / wages
Motivation is the key to success
Motivation is a reason or are reasons for acting or behaving in a particular way
Motivation is the reason why the employees want to work hard and work efficiently for the business
Identify the correct definition of the factors of production
Factors of production are the factors affecting a profit to the business
Factors of production are those resources needed to produce goods or services
Factors of production are the economic resources that are used to produce goods and services
Opportunity cost is the ____ ____ ___________ given up by choosing another
(a)
Define 'span of control'
The span of control is the structure in an organisation which allows instructions to be passed down from senior management to lower levels
The span of control is the number of managers in a business
The span of control is the difficulty in controlling the big business
The span of control is the number of subordinates working directly under a manager
(Choose the three styles)
The three types of leadership styles are:
Democratic
Laire faire
Autodemocratic
Autocratic
Laissez-faire
_____ _____ is a group of workers who has joined together to ensure their interests are protected
(a)
Define 'primary sector'
The primary sector of industry involves the farmers who farm and extract raw food materials to provide nutrients and food for the population
The primary sector of industry involves only the primary sector businesses
The primary sector of industry extracts and uses the natural resources of the earth to produce raw materials used by other businesses
Define 'business plan'
A business plan is plan made by the entrepreneur and the plan contains the steps by which the entrepreneur will set up the new business
A business plan is a document containing the business objectives and important details about the operations, finance and owners of the new business
A (a) is when business buys out the owners of another business which then becomes part of the 'predator' business
Define the term 'entrepreneur'
An entrpreneur is a person who organises, operates and tasks rick for a new business venture
An entrepreneur is a businessman who sets up a business or businesses, taking on financial risks in the hope of profit
What is it meant by the trm 'partnership'?
Partnership is an association of two or more people as partners
Partnership is a form of business in which two or more peopple agree to jointly own a business
Partnership is the state of being a partner or partners
A (a) is any person or group with a direct interest in the performance and activities of a business
Define 'organisational chart'
An organisational structure shows the relationships between the owners of the business and their competitors
An organisational structure refers to the levels of management and division of reponsibilities within an organisation
