Why People Set Up Businesses (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What are the two main categories of reasons why entrepreneurs establish businesses?
What are the two main categories of reasons why entrepreneurs establish businesses?
Financial and non-financial
What does profit maximisation mean?
What does profit maximisation mean?
Making as much profit as possible in a time
What is profit satisficing?
What is profit satisficing?
Making enough profit to maintain interest
What is a lifestyle business?
What is a lifestyle business?
Business generating enough profit for flex
What relationship exists for profit maximisers taking bigger risks?
What relationship exists for profit maximisers taking bigger risks?
Risk and potential reward are related
Why might someone with ethical beliefs establish a vegetarian restaurant?
Why might someone with ethical beliefs establish a vegetarian restaurant?
To reduce animal slaughter via customers
What is the primary aim of social enterprises?
What is the primary aim of social enterprises?
Improving human & environmental wellbeing
What percentage rated independence as very important when considering entrepreneurship?
What percentage rated independence as very important when considering entrepreneurship?
Nearly 90 per cent
What are the two major benefits of home working for entrepreneurs?
What are the two major benefits of home working for entrepreneurs?
Time & cost savings, and flexibility
How might profit maximisers negatively affect employees?
How might profit maximisers negatively affect employees?
Using zero hours contracts & minimum wage