Business Structure
This type of business is owned by one person.
Sole Trader
What is a full-time employee?
A worker who normally works around 38 hours per week.
Provide 3 examples of natural resources
What does branding represent?
Name, design and logo
2 types of companies - need full name
Private/Public companies
What can be a benefit and a drawback of casual employment?
PRO
-higher pay
-high flexibility
CON-Not guaranteed shift
-unstable income
-less entitlements
A hairdresser uses scissors, chairs and hairdryers to provide a service. What type of resources are these?
Capital
Cost-plus
Competition-based
Penetration
Skimming
The owners of a company are known by this name.
Shareholders
Paid annual leave, long-service leave, and sick leave.
What are the 3 types of resources?
Natural
Labour
Capital
This intermediary purchases products in large quantities and sells them to retailers.
Wholesaler
How many shareholders a private company can have?
1-50
What does OH&S stand for, and what does it protect?
OH&S stands for Occupational Health and Safety.
It protects workers' safety and health at work.
What is scarcity?
Limited resources with unlimited wants.
Provide an example for penetration pricing and skimming pricing
Youtube membership
Apple
How many shareholders a public-listed company can have?
1 to unlimited.
What is underemployment?
Overqualified for the position
OR
Want to work full-time but only be offered part-time/casual
What are the differences between natural resources and capital resources?
Natural
-from nature
-exist without human intervention
Capital
-may use natural resources to produce
-made by people
What are the 4 promotion strategies?
Advertisement
Direct marketing
Personal selling
Sales promotion