2.1

Question 1

Enterprise-

Answer 1

A business. E.g. Subway or McDonalds

Question 2

Entrepreneur-

Answer 2

A CEO/boss of a business/enterprise. E.g. Bill Gates

Question 3

Consumer-

Answer 3

A customer who buys a product.

Question 4

Obsolete-

Answer 4

A product that is no longer produced or is out of date

Question 5

E-Commerce

Answer 5

An online shop or website online

Question 6

M-Commerce-

Answer 6

Commercial transactions conducted by a mobile phone.

Question 7

Social Media-

Answer 7

Shares information and career interests by virtual communities

Question 8

Internal Growth-

Answer 8

When a Business expands itself via making new products and advertising.

Question 9

External Growth-

Answer 9

When a company increases its sales and profits by buying other companies, rather than from its own operations via Merging or by doing a Takeover.

Question 10

Merger-

Answer 10

When you combine two companies into a single larger company.

Question 11

Takeover-

Answer 11

The purchase of one company (the target) by another (the acquirer, or bidder).

Question 12

Internal Growth Pros & Cons-

Answer 12

Pros: Don't share Growth with other enterprises
New products
Enter new markets
Fresh research 
Up to date on customer needs

Cons: Less money
Harder to get research
Less products being made
More staff needed
Wages need paying while researching

Question 13

External Growth Pros & Cons-

Answer 13

Pros: More products being made
Less work to do
Work with a more successful business
More money coming in

Cons: Can be brought out
Can lose control
Can't make quick decisions
Can't make final decisions 
Could not be able to get much money

Question 14

Internal sources-

Answer 14

Retained profit

Selling assets

Question 15

External assets-

Answer 15

Loan capital

Share capital including stock market floatation (Public Limited Companies (PLCs))