Chapter 1, Enterpriser and Business Functions Flashcards
1
Q
Enterprise
A
A Business or Entrepreneur
2
Q
Characteristics of an Entrepreneur
A
- Energy and Enthusiasm
- Leadership skills, such as motivation and communication
- Ability to take risk
- Self Belief and confidence
- Persistence/ Drive
- Ability to work under pressure
- Creative and Imaginative
3
Q
Factors of Production
A
Inputs used in the production of goods such as:
Land, Capital, and Enterprise
4
Q
Constraints of a Business
A
- Competition
- Environment
- Legislation
- The Economy
5
Q
Functions within a Business
A
- Accounting and Finance
- Management and Production
- Marketing and Support services
- Human Resources