Question 1
Which of the following is an advantage of job production?
[1 mark]
Which of the following pairs of legal structures both benefit from limited liability?
[1 mark]
Which of the following is an economic influence on businesses?
[1 mark]
Which of the following is a method of digital communication?
[1 mark]
Which of the following is the formula for average unit costs?
[1 mark]
Which of the following describes the lean production technique of just-in-time (JIT)?
[1 mark]
Identify two factors a business may consider when choosing a supplier.
[2 marks]
Explain one reason why a person might want to become an entrepreneur.
[2 marks]
Explain one reason why the training of current employees may be needed.
[2 marks]
Explain one disadvantage to a business of decentralisation.
[2 marks]
Explain what is meant by opportunity cost for a business.
[2 marks]
State and describe two documents which may be produced during the recruitment and selection process of employees.
[4 marks]