mocks Flashcards
1
Q
Give 3 characteristics of an entrepreneur.
A
risk taking, resilience, creativity
2
Q
what is a business plan?
A
a document setting out a business’s future objectives and strategies for achieving them
3
Q
what is an entrepreneur?
A
a person who sets up a business or businesses, taking on financial risks in the hope of profit.
4
Q
what is limited liability?
A
If the company owes money, possessions cant be taken.
5
Q
what is unlimited liability?
A
If the business owes money, possessions can be taken.
6
Q
what is organic growth?
A
the growth of a business through internal processes, relying on its own resources.
7
Q
what is external growth ?
A
