BUSINESS BASICS
TYPES OF BUSINESSES
LUCKY DIP
ROLE OF BUSINESS
GUESS THAT BUSINESS??
100

This term refers to things that people cannot live without.

Needs

100

This is the simplest business structure, owned by one person.

Sole trader

100

The money left over after expenses are deducted from revenue.


BONUS 500 POINTS: What is the most ...???.. 'specialty' retail company in Australia?

Profit

100

Businesses contribute to society by paying these, which fund public services like roads, schools, and hospitals.

Taxes

100
  • This company started as an online bookstore in 1994
  • It is now one of the largest e-commerce platforms in the world
  • Its founder briefly became the richest person globally

Amazon

200

This factor of production includes human effort used in business.

Labour

200

This business model allows people to operate under an established brand name.


BONUS 100 POINTS: Which is the largest one in Australia?

Franchise/Jim's Group

200

This occurs when total revenue equals total costs

The break-even point

200

Businesses often push existing technology forward, developing new products, processes, or services. This role is known as?

Innovation

200
  • This company uses a freemium model combined with algorithmic personalisation
  • Its costs are heavily tied to licensing agreements rather than production
  • It operates in an industry disrupted by the shift from ownership to access

Spotify

300

The next best alternative forgone when making a decision is known as the?

Opportunity cost

300

This term describes the owners of a company.


BONUS 500 POINTS: Which company has the most of them worldwide?

Shareholders/Apple Inc.

300

This external influence impacts the availability of resources that businesses need to operate, such as labour and capital.

Markets

300

An electronics company launches a campaign encouraging customers to recycle old devices in exchange for store credit. Which role of business does this illustrate?

Sustainability/social responsibility

300
  • This company uses a direct-to-consumer model, bypassing traditional dealerships
  • It has heavily invested in automation and innovation
  • It has also expanded into energy storage solutions

Tesla

400

A business decision that increases output without increasing inputs is best described as an improvement in this.

Productivity

400

A key advantage of a company structure, which protects the owners' personal assets.

Limited liability

400

Institutional influences have a significant impact on a businesses operations. Name the three institutions that influence businesses.

Government, regulatory bodies, trade associations/unions.

400

Which industry employs the largest number of Australians according to ABS data?

Health Care and Social Assistance

400
  • This company operates in the sharing economy without owning its core assets
  • It scales globally with relatively low capital investment compared to traditional competitors
  • It has faced regulatory challenges around housing availability and local laws

Airbnb

500

A company expanding by acquiring a competitor in the same industry is known as what?

Horizontal integration

500

A business is seeking rapid expansion and access to significant capital but wants to limit the personal financial risk of its owners. However, it must accept increased regulation, separation of ownership and control, and reduced privacy.

Public company

500

Old Spice rejuvenated their brand image beginning in 2010 with the famous 'Man you man could smell like' campaign, which pivoted to target female consumers and boost declining sales. This is an example of what element of the business cycle?


DOUBLE YOUR POINTS: Which famous American actors took up the role of the titular 'man' in this ongoing ad series?

Renewal/Terry Crews

500

A key role of business is to provide employment to people within their local community. Which business is Australia's largest employer?


RED SHELL: How many people (+/- 10% do they employ?)

Woolworths Group

500
  • This company operates a subscription-based SaaS model
  • Its products are widely used for creative industries
  • It transitioned from one-time purchases to recurring revenue streams

Adobe

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