Question 1
Which of the following characteristics of an entrepreneur is the ability to develop new ideas/products?
[1 mark]
Which of the following describes the chain of command?
[1 mark]
Which of the following is a definition of a part time contract of employment?
[1 mark]
Which of the following is the formula for total costs?
[1 mark]
Which of the following is the next stage in the selection process after the closing date for job applications?
[1 mark]
Enterprise is one of the four factors of production. Which of the following is a definition of enterprise?
[1 mark]
State two financial methods of motivation.
[2 marks]
Explain one method a business may use to expand.
[2 marks]
Explain one benefit of job production to a business.
[2 marks]
Explain one benefit to shareholders of limited liability.
[2 marks]
Identify two stages of the process of procurement.
[2 marks]
State and explain two employment laws.
[4 marks]