Directive Verbs
Provide characteristics and features.
Describe
What is the name of the organisation that defines the size of businesses based on their employees?
Australian Bereau of Statistics (ABS)
The role of SMEs (and all businesses) can be broadly categorised into two categories. What are these categories?
Social & Economic
What percentage of SMEs fail in the first year of operation?
20%
As of 2025, what is the most used social media platform?
Provide reasons in favour.
Recommend
How does the ABS define a small AND medium business?
Hint: do not include micro in small.
Small: 5-19
Medium: 20-199
What percentage of Australia's businesses are SMEs?
99.8%
The process of selling the assets of an incorporated company to recover money for the creditors to pay any outstanding debts, is known as?
Liquidation
Name two of the five largest companies in the world by market capitalisation (total value of the companies shares).
You can have THREE guesses.
1. Microsoft $3.220 trillion
2. Apple $2.931 trillion
3. NVIDIA $2.856 trillion
4. Amazon $2.003 trillion
5. Alphabet (Google) $1.844 trillion
- Relate cause and effect.
- Make the relationships between things evident.
- Provide why and/or how.
Explain
Identify THREE measurements that can be used to determine business size.
• number of employees
• type of ownership
• sources of finance
• legal structure
• market share
• management structure
Identify FIVE roles of SMEs. These need to come from the list of 8 social and economic roles that we have discussed in class.
Profit
Employment
Income
Choice
Innovation
Entrepreneurship & Risk
Wealth Creation
Quality of Life
Define Gross Domestic Product.
GDP is the total monetary value of all goods and services produced in a country over a one-year period.
Google purchased YouTube for $1.65B. In what year did they make this purchase?
2006
Support an argument or conclusion.
Justify
Challenge: Create a slogan for a new toothpaste to market. It focuses on whitening teeth.
TBC
The process of creating options in the market for consumers to ensure a fair and competitive market is aligned to which role of businesses?
Choice
How do SMEs contribute to the balance of payments?
Exporting goods and services contributes to our balance of payments. 88% of Australian exporters are SMEs and they earn almost 50% of export revenue.
Think Different is the slogan of which company?
Apple
Make a judgement of value, quality, outcomes, results or size.
Assess
Which organisation classifies small businesses as having less than $10 million in turnover?
Australian Taxation Office (ATO)
What percentage of all people are employed by SMEs?
68.3%
Identify THREE of the five common keys to SME success.
Entrepreneurial abilities.
Access to information.
Flexibility.
Focus on market niche.
Reputation.
What is the full company tax rate in Australia?
30%