1. notes and revision

Question 1

Business

Answer 1

This is an organisation that uses resources to satisfy the needs and wants of individiuals or organisations

Question 2

FOP

Answer 2

CELL

Question 3

Capital

Answer 3

This is the artificial technology used to produce g/s.

Question 4

Enterprise

Answer 4

This is the risk taking to add all the FOP to produce g/s

Question 5

Land

Answer 5

these are the natural resources used to produced g/s

Question 6

Labour

Answer 6

This is the physical and mental human input used to produced g/s

Question 7

Need

Answer 7

This is a basic neccesity man cant live without

Question 8

want

Answer 8

this is a g/s man would like to have to make life more comfortable but can live without

Question 9

Primary sector

Answer 9

This sector focuses on acquiring raw materials eg farming

Question 10

Secondary sector

Question 11

Teritiary sector

Question 12

Quanternary sector

Question 13

Reasons for starting up a business

Question 14

External factors affecting a business

Question 15

The STEEPLE analysis

Question 16

Privatisation

Question 17

Nationalisation

Question 18

Sole trader definitiion

Question 19

Merit good

Question 20

Sole trader ads/ dis

Question 20

Partnerships defintiion

Question 21

Partnerships ads/dis

Question 22

company

Question 23

why become a shareholder

Question 24

Privately held companies

Question 25

Publicly held companies

Question 26

Factors influencing dividents paid to shareholders

Question 27

Social enterprise

Question 28

NGOs

Question 28

Coperatives

Question 29

Charities

Question 30

the five types of businesss

Answer 30

Sole trader partnerships companies corporation cooperatives

Question 31

Mission

Question 32

vision

Question 33

strategy

Question 34

objective

Question 35

SMART

Question 36

SWOT

Question 37

CSR

Question 38

Advantages of CSR

Question 39

disadvantages of CSR

Question 39

stakeholder

Question 40

shareholders

Question 41

stakeholder interests

Question 42

stakeholder conflicts

Question 43

the shareholder concept

Question 44

stakeholder conflict diagram

Answer 44

Degree of power vs Level of interest L,L

Question 44

merger

Question 45

Maslows heirachy of needs

Question 46

takeover

Question 47

acquisition

Question 48

joint venture

Question 49

franchise

Question 50

horizontal integration

Question 51

vertical integration

Question 52

backward integration

Question 52

forward integration

Question 53

strategic alliance

Question 54

ansoff matrix

Question 55

multinational companies

Question 56

adavantages of mncs

Question 57

disadavantages of mncs