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    The document contains a series of questions about business concepts including: - The difference between goods and services, and examples of durable and non-durable goods - Definitions of production, consumption, and wealth creation - Descriptions of small, medium, and large businesses - The purpose of business and role of the entrepreneur - Main stakeholders in a business and social/economic costs and benefits - What an organization chart shows and definitions of line relationships, chain of command, and span of control - Descriptions of tall and flat organizational structures - Ways a business can restructure and the main functional areas

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    The document contains a series of questions about business concepts including: - The difference between goods and services, and examples of durable and non-durable goods - Definitions of production, consumption, and wealth creation - Descriptions of small, medium, and large businesses - The purpose of business and role of the entrepreneur - Main stakeholders in a business and social/economic costs and benefits - What an organization chart shows and definitions of line relationships, chain of command, and span of control - Descriptions of tall and flat organizational structures - Ways a business can restructure and the main functional areas

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    3 views1 page

    Unit 1 Summary Questions

    Uploaded by

    970290
    The document contains a series of questions about business concepts including: - The difference between goods and services, and examples of durable and non-durable goods - Definitions of production, consumption, and wealth creation - Descriptions of small, medium, and large businesses - The purpose of business and role of the entrepreneur - Main stakeholders in a business and social/economic costs and benefits - What an organization chart shows and definitions of line relationships, chain of command, and span of control - Descriptions of tall and flat organizational structures - Ways a business can restructure and the main functional areas

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Unit 1.

    1 Summary Questions
    1 2 3 4 5 6 7 8 9 What is the difference between a Good and a Service? What is a durable good and give an example? What is a non-durable good and give an example? What is production? What is consumption? Explain wealth creation. Describe a small business. Describe a medium-sized business. Describe a large business. 19 What is the purpose of business? 20 What is the role of the entrepreneur? 21 Why would an entrepreneur be willing to take a risk? 22 Who are the main stakeholders in a business? 23 What are the social costs of business? 24 What are the social benefits of business? 25 What are the economic costs of business? 26 What are the economic benefits of business? 27 What does an organisation chart show? 28 Describe line relationships. 29 What is the chain of command? 30 What is the span of control? 31 Describe a tall structure. 32 Describe a flat structure. 33 What ways can a business restructure? 34 Describe each of these. 35 What are the main functional areas in a business? 36 What is a functional relationship?

    10 What are the three sectors of industry? 11 Describe each of the above. 12 Name the types of business in the private sector. 13 Describe each of the above. 14 Which type of company can sell shares on the stock exchange? 15 What does unlimited liability mean? 16 What are the aims of companies in the Private Sector? 17 What are the aims of the Public Sector? 18 What are the three types of industry?

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