Nature of Business
The process of transferring ownership of a government to the private sector is called what?
Privatisation
A mobile company has designed a logo to market its mobile phones. Which marketing strategy is being used by the company?
Product
What is the formula for working out quantity of sales needed to reach a break-even point?
Q = Fixed Costs / (Unit Price - Variable Costs)
Provide characteristics and features.
Describe
Name one of the top 3 happiest countries on Earth
Finland, Iceland, Denmark
When assets are sold and redistributed to its creditors, this process is called what?
Liquidation
Employees in an industry have sought an 18% wage increase over the next three years. Which stakeholder would likely represent the employees in this process?
Trade union
A business is reviewing its forecast financial budget with actual results. Which part of the business planning process is this?
Monitoring
Provide reasons in favour.
Recommend
You cannot fold a piece of A4 paper more than how many times?
8
Name the 4 main methods to classify a business?
Size, Geographical spread, Industry sector, Legal structure
Richard is working as a packer for an online retail store. He has been assigned the job to check for any damages, defects or missing items and then pack for postage. Which of the following approaches to management is likely occurring in this workplace?
Classical
State one fact/source of evidence related to the role of SME's.
- Employ approx. 68.3% of all people in the private sector (44% in small businesses and 24% in medium businesses)
- Produce approximately 55% of all the products produced each year
- Generate an increasing amount of our total exports
- Account for 43% of all money spent on R&D
- Provide a wide range of products used by large businesses
- Earn more profits + pay more taxes than large businesses combined
Ascertain/determine from given facts, figures or information.
Calculate
55 Cancri E is around twice the size of Earth and some 40 light-years away from Earth within the Cancer constellation. It is also known to be mostly made of what?
Diamonds
The Australian aviation industry is dominated by Qantas and Virgin. What market structure is this an example of?
Oligopoly
Which financial statement measures an business' profitability?
Income Statement OR Profit/Loss Statement
Which level of government is responsible for zoning?
Local
Make a judgement of value, quality, outcomes, results or size.
Assess
Wearing a tie can reduce blood flow to the brain by how many percent?
7.5%
A business acquiring or merging with another firm that makes similar products is known as what?
Horizontal integration
A business segments its market according to gender, age and ethnic background. Which customer characteristics are they using?
Demographic
Name THREE examples of employee on-costs
- workplace health and safety requirements (E.g., uniforms, equipment or safety gear)
- leave entitlements (sick leave, LSL, paternity/maternity leave)
- superannuation
- holiday pay
- workers’ compensation
- leave loading
- training and development costs
- recruitment and induction costs
Identify issues and provide points for and/or against.
Discuss
Hippopotomonstrosesquippedaliophobia is the fear of what?
Long words