Chapter 10: Small to Medium Enterprises (SMEs)

Question 1

What size business has 1-5 employees?

Answer 1

Micro

Question 2

What size business has 5-19 employees?

Answer 2

Small

Question 3

What size business has 20-199 employees?

Answer 3

Medium

Question 4

What size business has 200+ employees?

Answer 4

Large

Question 5

An enterprise's size can be determined by:
• \_\_\_\_\_\_ \_\_\_ \_\_\_\_\_\_
• Type of ownership
• Sources of finance
• Legal structure
• Market share
• Management structure
What's missing?

Answer 5

Number of employees

Question 6

An _______ is a system used to determine what to produce, how to produce and to whom production will be distributed
What’s missing?

Answer 6

Economy

Question 7

_____ ______ ______ is the total money value of all goods and services produced in Australia over a one-year period
What’s missing?

Answer 7

Gross Domestic Product (GDP)

Question 8

The _______ ___ _______ is a record of a country’s trade and financial transactions with the rest of the world over time, usually one year
What’s missing?

Answer 8

Balance of payments (BOP)

Question 9

The 5 keys to \_\_\_\_ success include:
• Entrepreneurial abilities
• Access to information
• Flexibility
• Focus on market niche
• Reputation
What's missing?

Answer 9

SME

Question 10

A ____ is classified as a failure when it is:
• Unincorporated and declared bankrupt
• Incorporated and forced into liquidation or voluntary close
What’s missing?

Answer 10

SME