Chapter 3: Enterprise, business growth and size
DRAFT
10th - 12th grade
608 times
Other
61%
average accuracy
2 years ago
deanhoss
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Chapter 3: Enterprise, business growth and size
DRAFT
2 years ago
by
deanhoss
Played 608 times
2
10th - 12th grade
Other
61% average accuracy
2
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11 Questions
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Question 1
SURVEY
20 seconds
Q.
The advantage of a person becoming an entrepreneur is:
answer choices
more money'll always be earned than working for an employer
there is more independence than when working for an employer
Less risk of business failure
no oppotunity cost involved in becoming anentepeneur
Question 2
SURVEY
20 seconds
Q. An important characteristic of a successful entrepreneur is that:
answer choices
they are always rich
they are risk takers
they are usually shy
they want to avoid hard work
Question 3
SURVEY
30 seconds
Q. A business plan for a new business will include all of the following
except
answer choices
financial forecasts
market research data
details of the business owners
previous years' accounts
Question 4
SURVEY
20 seconds
Q.
What benefit does drawing up a business plan bring for a new entrepreneur?
answer choices
it shows exactly how much money the firm will make
it makes sure the bank will lend all the capital needed
it means that the business start up has no risk of failure
it helps in organising the resources needed for the new firm
Question 5
SURVEY
20 seconds
Q.
Which of the following is not an effective way of measuring the size of a business?
answer choices
number of employees
value of sales
value of capital invested
profit level
Question 6
SURVEY
20 seconds
Q.
Which of the following options is most likely to be a reason why a firm may wish to expand?
answer choices
To keep control of the business
To increase the level of profits the firm will make
To encourage competition
To avoid publicity
Question 7
SURVEY
20 seconds
Q.
Which of the following is an example of horizontal integration between two businesses?
answer choices
An oil company and an insurance company merge
A shoe shop buys out a shoe factory
A steel firm takes over a coal mine that supplies coal
Coca-Cola
takes over a small soft drink business
Question 8
SURVEY
20 seconds
Q. One of the reasons for vertical integration between two businesses could be to:
answer choices
diversify into a completely different industry
reduce competitors supplying the same product
control the supply of raw material
obtain higher market share
Question 9
SURVEY
20 seconds
Q. One of the most common reasons for a new business not surviving is:
answer choices
too much time spent on developing the business plan
no competitors in the industry
poor cash flow as a result of poor financial planning
consumers like dealing with small firms providing a service
Question 10
SURVEY
20 seconds
Q.
If the risks of starting up a business are so high, why do entrepreneurs create new businesses?
answer choices
The rewards are always extremely low
The rewards can be very high
The risks of the business failing are very low
Question 11
SURVEY
30 seconds
Q.
One way of overcoming the problems that often result from fast business growth is to
answer choices
integrate with a much larger business
reduce the amount of capital invested in the business
reduce communication between people to save time
operate the business in smaller units
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