1(B)

Question 1

Business objectives

Answer 1

Business objectives are the goals a business intends to achieve

Question 2

To make a profit

Answer 2

Profit is total revenue earned minus total expenses incurred

Question 3

Market share

Answer 3

Market share is a business’s percentage of total sales within its industry.

Question 4

To meet shareholder expectations

Answer 4

Capital gains is an increase in the value of a share, meaning an investor can sell their shares at a higher price than what they originally purchased them for.

Dividends are regular sums of money paid out to shareholders from a business’s profit.

Question 5

To fulfil a market need

Answer 5

To fulfil a market need is when a business fills a gap in the market, which involves addressing customer needs that are currently unmet or underrepresented by other businesses in the same industry.

Question 6

To fulfil a social need

Answer 6

To fulfil a social need is improving society and the environment through business activities.

Question 7

To improve Efficiency

Answer 7

Efficiency is how productively a business uses its resources when producing a good or service.

Question 8

To improve Effectiveness

Answer 8

Effectiveness is the extent to which a business achieves its stated objectives.