Short Answer
Why is identifying a successful business opportunity important for a small business?
It allows the entrepreneur to meet unmet needs in the market and increase the chances of business success.
Selling goods and services online is called ____.
E-commerce
Which factor may influence where a business is located?
A. Labour cost
B. Music taste
C. Weather forecast
Labor Cost
ECRCOMEME
E-commerce
Metal that is liquid at room temperature?
Mercury
What is one challenge small businesses face when sourcing capital?
Small businesses often lack collateral or credit history, making it difficult to obtain loans from financial institutions.
A word, symbol, or logo that identifies a business is called a ____.
Trademark
Which intellectual property protects books and music?
A. Patent
B. Copyright
C. Trademark
Copyright
LPACITAA
Capital
In what fictional town does "stranger things" take place?
Hawkins
Why must an entrepreneur carefully select the type of business organization?
Different business types have different levels of liability, control, taxation, and access to capital.
When countries remove trade barriers to encourage trade, this is called trade ____.
Liberalisation
Which of the following is a source of capital?
A. Personal savings
B. School uniforms
C. Internet speed
Personal savings
ARMDRETK
Trademark
Which planet is distinguished by the Great Red Spot?
Jupiter
Why is business location important for a small business?
A good location increases customer access, visibility, and potential sales.
A business owned and managed by one person is called a ____ trader.
Sole
What allows businesses to sell products internationally?
A. Globalisation
B. Inflation
C. Recycling
Globalization
LOGISALTIONBIA
Globalisation
In which year did World War II end?
1945
How can globalisation affect small businesses? (One positive and one negative)
It can create opportunities for international markets but also increase competition from foreign companies.
Money used to start or expand a business is called ____.
Capital
Two people starting a business together is called:
A. Sole trader
B. Partnership
C. Franchise
Partnership
SRPTEAHNIP
Partnership
What do you call a group of flamingos?
Flamboyance