Types of businesses
What happens if the owner dies?
the business dissolves
Name two currencies found/ used in the Caribbean
USD, Peso, XCD, JMD, BDS, GYD.
Define "stakeholders" in the context of a business.
Any person, firm or organization with an intrest in a business.
Name 4 functional areas of business
Production, Marketing and Sales, Finance, HR, R & D, Customer Service
Two examples of token money
Shells, feathers, beads, teeth, bones, arrow heads
Give 2 advantages of a sole trader
Easy to Start and Manage, Full Control, Retention of Profits, Flexibility, Personalized Service, Privacy, Low Operating Costs
Name two disadvantages of the barter system.
Double coincidence of wants, Storage of wealth, Divisibility, Lack of standard exchange rate.
Name the two broard Catergories of stakeholders
Internal and External
Name two responsibilities of HR
Hiring and Firing, Traning, Conflict resolution, motivation, safety.
Which Functional area of business is considered the life blood of the organization?
Finance
How many partners are allowed in a partnership
Two to Twenty partners
3 functions of money are......
Medium of exchange, Store of value, Deffered payment, Unit of account.
What interests does an employee have as a stakeholder in a business?
Safe and clean environment, to be paid fairly, and to be treated fairly. (any two for full marks)
Why is the Marketing department important.
it helps with - Advertising, promotion, PR and sales management.
How many shareholders can a private company have?
50 shareholders
What is the main purpose of a cooperative?
To provide a good or service to its members.
4 characteristics of money are.....
Acceptability, durability, divisibility, portable, homogeneous, limited supply,
Identify two internal stakeholders and two external stakeholders of a business.
Internal- Owners, managers, employees, customers
External- Gov, Competitors, Suppliers, Communities, Schools, Pressure groups.
FREE TILE
LUCKY WIN
Name the 2 MNC in ANU
Digicel and Flow
Name 5 Franchises in ANU.
Burger king, Radio shack, Payless, Subway, KFC
State the development of money in order from Barter to Cryptocurrency. (one mistake allowed)
Barter- token money- precoius metals- notes and coins- cheques- plastic money- electronic money- crypto
Name 5 Stakeholders of SASS
BOD, Principal, Teachers, Parents, Students, Other Schools, Ministry of EDU, Surrounding Communities.
What takes place in R & D?
Creating new products and improving existing products.
Differentiate betwee a job and a career.
A job is a specific task or role undertaken to earn income, often with a short-term focus. A career, on the other hand, is a long-term pursuit of work in a particular field, emphasizing personal growth and professional development. While a job may be temporary, a career involves planning and progression toward achieving goals.
Jobs need little training whereas careers need a lot of study and training.