AS Business Studies (CIE) UNIT 1

How can a business reduce the risk of failure?

• By selling less products
• By keeping the cost of their products low
• By carrying out market research
• By staying open late.

What is an entrepreneur?

• Someone who takes a calculated risk through starting a business
• Someone who gives up when something goes wrong
• Someone who doe not understand the business environment
• Someone who does not take time to consider the risks

What is meant by 'adding value'?

• The money a company invests into a new product
• the difference between the price of the finished product/service and the cost of the inputs involved in making it.

The insurance industry forms part of the..... sector

• Primary

• Secondary

• Tertiary

• Informal

The........ sector includes the production industry/ services that is offered by the business and consumers

• quality control

• primary

• Government

• secondary

What are stakeholders?

• Anybody who knows the name of the business
• Anybody who takes an interest in a business
• Anybody who works for the business
• Anybody who buys from the business

True or False: stakeholders can be internal and external.

• True
• False

Which of the following is NOT an example of a stakeholder?

• Customers
• Shareholders
• Local Community 
• Children

As a stakeholder, what interest would the shareholders have in a business?

• Increasing Profits
• Business Relationships
• Business Profitability
• Staff Pay

As a stakeholder, what interest would pressure groups have in a business?

• Training
• Business Relationships
• Business Profitability
• Staff Pay