Introduction To Business

Question 1

Business

Answer 1

A organisation that produces goods or services

Question 2

Organisation

Answer 2

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

Question 3

Goods

Answer 3

Toungable products

Question 4

Services

Answer 4

Untongable products

Question 5

Consumer goods

Answer 5

Goods and services sold to ordinary People

Question 6

Producer goods

Answer 6

Goods and services produced by on business to another

Question 7

Needs

Answer 7

Basic requirements for human survival

Question 8

Wants

Answer 8

People desire for goods and services

Question 9

Private sector

Answer 9

Business organisations owned by individuals or group of individuals

Question 10

Public sector

Answer 10

Business organisations owned by central or local goverment

Question 11

Stakeholder

Answer 11

An individual or a group Who is interested in or affected by the activity of a business

Question 12

Entrepreneur

Answer 12

A person Who takes risks and sets up businesses

Question 13

Costumer

Answer 13

An individual Who buys a products

Question 14

Consumer

Answer 14

A person Who uses a product

Question 15

Objectives

Answer 15

Goals or targets set by a business

Question 16

Shareholders

Answer 16

Owners of limited companies

Question 17

Large businesses

Answer 17

A business that employs more then 250 People

Question 18

Small business

Answer 18

A business that employs less then 50 persons

Question 19

Revenue

Answer 19

Money from the scale of goods and services

Question 20

Unincorparated

Answer 20

Business where there is no legal difference between the owner and the business

Question 21

Incorparated

Answer 21

Business that has a separate legal identity from that of its owners

Question 22

Sole trader

Answer 22

Business owned by a single person

Question 23

Unlimited liability

Answer 23

Owner of a business is personally liable for All business depths

Question 24

Partnership

Answer 24

Business owned by between a 2 and 20 People

Question 25

Deed of partnership

Answer 25

Binding legal document that states the formal rights of partners

Question 26

Limited liability

Answer 26

Business owner is only liable for the original amount of money invested in the business

Question 27

Merchindise

Answer 27

Goods that are being sold

Question 28

Charities

Answer 28

Organisations that give money, goods or help to People Who are poor, sick or in need.

Question 29

Limited liability (shareholders)

Answer 29

Shareholders are legally responsible for the depths of a company according to how many shares they own

Question 30

Limited companies

Answer 30

Business organisations that have a separate legal identity from that of its owners

Question 31

Private limited company (Ltd)

Answer 31

Privately held small business entity. Number of shareholders under 50. Shares Can only be sold to People You know. Limited company.

Question 32

Public limited company (PBL)

Answer 32

Minimum share capital €50000, freely traded shares. Limited company.

Question 33

Multinational company

Answer 33

Large business with significant production or service operations in at least two different countries

Question 34

Arcticles of Association

Answer 34

Internal rules of running a company

Question 35

Memorandum of Association

Answer 35

This sets out the constitution and gives details about the company.

Question 36

Enternal stakeholder

Answer 36

Person Who takes part in a business

Question 37

Enternal stakeholder

Answer 37

Person Who is affected by the activity of a business