UB prelim

Question 1

stakeholders (impact)

Answer 1

owners make decisions
suppliers deliver products on time
customers are loyal
high working rate employees

Question 2

business plans purpose

Answer 2

the produce or service
financial set up for business
proposed business premises

Question 3

factors of production

Answer 3

land
labour
capital
enterprise

Question 4

social enterprise

Answer 4

-tackle problems and improve lives of individuals in their location
-make money by selling goods or services then reinvest profits back into business to provide addition support
-staff receive salary’s like any other business

Question 5

feature of social enterprise

Answer 5

-use profits to help its cause
- create jobs for the local economy
-has employees and volenteers
-primarily has social and environmental aims

Question 6

objectives of social vs private sector

Answer 6

-social enterprise reinvest their profits back into helping the community whereas the private sector keep all their profits made for the owners
-social enterprise sim to help the community and improve lives of individuals wherteas the private sector aim to make profited and increase sales
- social enterprise are funded by grants and sponsorships whereas the private sector are funded by the onwers own savings

Question 7

sectors of industry

Answer 7

primary
secondary
tertiary

Question 8

customer service benefits

Answer 8

customer loyalty
increase of sales and profits
good reputation

Question 9

sectors of economy

Answer 9

private
public
third

Question 10

public objectives

Answer 10

keep within budget
provide same quality service product to everyone in country or area
use taxes wisely

Question 11

private

Answer 11

increase sales and profits
expand product range
build a reputation
improve quality of product

Question 12

third

Answer 12

to help cause
raise money
help provide service for members
increase volunteering

Question 13

external factor

Answer 13

political
economic
environmental
technological
social