Category 1
This is a home-based business: crafts, crochet, pottery.
A C_____________ I_____________
A Cottage industry
This leader makes decisions without consultation (discussion).
an authoritarian leader
The Market structure where there is ONE supplier to all homes, businesses and communities is called a __
monopoly
Which ministry do you go to register the name your new Business??
Ministry of Legal Affairs
This is the exchange of goods and services without the use of money.
Barter
characteristics of money
divisible
looks the same
For this economic systems, the GOVERNMENT make all the decisions?
C___________ P_____________
Centrally Planned
Loss leader
Mr. Brown receives a job offer from a company in Barbados. In order to take up the job, he decides to leave his home country of Trinidad and move permanently to Barbados.
In Trinidad, Mr Brown would be referred to as
An emigrant
This is when two to twenty persons create a business with a common view to make a profit.
A partnership
Jenna saw shoes online and purchased them. This transaction means Jenna engaged in
E-commerce
This economic system is most typical in the Caribbean
hint: it starts with "m"
mixed
.They purchase the goods in large amounts and sells them to the retailers.
A subsidized meals for employees is called a ___________ benefit
Fringe
We do this to see if people would be interested in the product or service and to see who is my competition.
Do market research
The giving of a day off after Sports day is a MAJOR part of which management function?
motivating
A person who has the ability to seek out and undertake risks of a new business opportunity is referred to as
An entrepreneur
The franchisee must pay a fee called _____to the franchiser yearly for using their name, reputation and brand.
royalties
is something you own that can be taken by the bank if the loan cannot be repaid within a certain time.
Collateral
This is creating a logo or symbol that represents the business’ product and separates it from rival products.
Branding
This refers to any commercial activity involving the exchange of goods or services. Hint "T"
Trade
Which type of industry does a business involved in food processing involve?
a. constructive
b. service
c. manufacturing
d. extractive
manufacturing
Fred and his friends went to the cinema.
On his way out Fred fell and was injured. What type of insurance would protect the cinema against claims by Fred?
hint P______ L__________- insurance
Public liability insurance
The central bank is owned and controlled by the
government
Can you name 2 reason why people buy something??
B___ L___
Brand loyalty
religion
my income