1. Business Activity And Influences On Business

Question 1

Business

Answer 1

Organisation that produces goods and services

Question 2

Organisation

Answer 2

Group, such as a club or business, that has formed for a particular purpose

Question 3

Goods

Answer 3

Physical products, such as a mobile phone, a packet of crisps or a pair of shoes

Question 4

Services

Answer 4

Non-physical products, such as banking, car washing and waste disposal

Question 5

Output

Answer 5

Amount of goods or work produced by a person, machine or factory

Question 6

Human resources

Answer 6

In some businesses, the department that deals with employing, trainning and helping people

Question 7

Consumer goods

Answer 7

Goods and services sold to ordinary people (consumers) rather than businesses

Question 8

Producer goods

Answer 8

Goods and services produced by one business for another

Question 9

Needs

Answer 9

Basic requirements for human survival

Question 10

Wants

Answer 10

People’s desires for goods and services

Question 11

Infinite

Answer 11

Without limits in space or time

Question 12

Finite

Answer 12

Having an end or a limit

Question 13

Scarce

Answer 13

Resources with a limited availability

Question 14

Private sector

Answer 14

Business organisations owned by individuals or groups of individuals

Question 15

Public sector

Answer 15

Business organisations owned by central or local government

Question 16

Stake holder

Answer 16

An individual or group with an interest in the operations of a business

Question 17

Enterpreneur

Answer 17

Pearson who takes risks and sets up businesses; individual who organises the other factors of production and risks their own money in a business venture

Question 18

dispute

Answer 18

Serious argument or disagreement

Question 19

Motive

Answer 19

Encourage someone to do something

Question 20

Machinery

Answer 20

Equipment with moving parts that uses power, such as electricity, to do a particular job