Introduction to Business Management Flashcards
1
Q
State how many factors of production there are.
A
4
2
Q
For your level of Business Management.
How many sectors of industry are there?
A
3 - N5
4 - H
3
Q
Name the factors of production.
A
Land
Labour
Capital
Enterprise
4
Q
Capital is comprised of?
A
Revenue (money) and machinery (assets)
5
Q
A person who sets up their own business is known as an?
A
Entrepreneur
6
Q
Which sector of industry for - fishing?
A
Primary
7
Q
Which sector of industry for - shops?
A
Tertiary
8
Q
Which sector of industry for - manufacturing?
A
Secondary
9
Q
Which source of finance can organisations apply for but don’t have to pay back?
A
Grant
10
Q
Which source of finance has to be paid back with interest?
A
Loan
