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  • Bus Test 1

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    niloy
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    The document outlines questions for a business test covering topics such as defining social enterprise and stakeholders, explaining the objectives of a business and how they may change, defining sole trader and the advantages and disadvantages of partnerships, how franchising benefits franchisors, defining factors of production and specialization, how businesses can increase added value, and the advantages and disadvantages of the division of labor and explaining the economic problem.

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    bus test 1

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    The document outlines questions for a business test covering topics such as defining social enterprise and stakeholders, explaining the objectives of a business and how they may change, defining sole trader and the advantages and disadvantages of partnerships, how franchising benefits franchisors, defining factors of production and specialization, how businesses can increase added value, and the advantages and disadvantages of the division of labor and explaining the economic problem.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views1 page

    Bus Test 1

    Uploaded by

    niloy
    The document outlines questions for a business test covering topics such as defining social enterprise and stakeholders, explaining the objectives of a business and how they may change, defining sole trader and the advantages and disadvantages of partnerships, how franchising benefits franchisors, defining factors of production and specialization, how businesses can increase added value, and the advantages and disadvantages of the division of labor and explaining the economic problem.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Business Test 1

    1. Define social enterprise.


    2. Who are stakeholders? Explain with examples.
    3. Explain 3 objectives of a business.
    Name: Marks obtained:
    4. Why might objectives change as a business evolves?
    5. Define sole trader.
    6. Explain 3 advantages and disadvantages for partnership business.
    7. How does operating a franchise benefits franchisors
    8.

    1. Define factors of production [2]

    2. Define specialization [2]

    3. How can a business increase added value [4]

    4. Explain two advantages and disadvantages of division of labour [6]

    5. Explain the economic problem. [6]

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