1

Question 1

Social enterprise

Answer 1

Opening a business to help society rather than for profits

Question 2

4 factors of production

Answer 2

Labour
Enterprise
Land
Capital

Question 3

Primary sector

Answer 3

First stage of production-collecting raw materials

Question 4

Secondary sector

Answer 4

Where the raw materials are made into goods.

Question 5

Tertiary sector

Answer 5

Organisations that provide services & sell products

Question 6

Inflation

Answer 6

The rate at which prices rise

Question 7

Tall organisational structure

Answer 7

Narrow control with large number of hierarchy

Question 8

Pro and con of tall organisational structure

Answer 8

Takes longer to send messages up

Smaller and more concentred span of control.

Question 9

Flat organisational structure

Answer 9

Wide span of control

Question 10

Pro and con of Flat organisational structure

Answer 10

Line managers will be very busy so hard to talk to

Quick upward communication.

Question 11

Delayering

Answer 11

Removing layers (managers)

Question 12

Delegation

Answer 12

Passing down authority to senior authority

Question 13

Interest rate

Answer 13

Cost of borrowing or saving money as a percentage