Business Unit 1 Setting up a Business

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1. what should be considered when locating a firm?

  • the price of air
  • the price of music on iTunes
  • location of : suppliers, customers, competition, communication
  • location of : animals (farms), suppliers, band member's houses
  • location of : Walt Disney's body, customers, roads
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2. Markets are dynamic. This means that they:

  • stay the same for a set period of time
  • are always changing
  • stay the same

3. correct spelling?

  • entrepreneur
  • entruprenuer
  • entreprener
  • entrupeneur

4. section in a business plan:

  • paypal password
  • Nirvana
  • mission statment
  • rocket parts
  • credit card numbers

5. The main stakeholders are in any business are:

  • Employees, Customers, Suppliers, Shareholders, Local Community, Government
  • shareholders
  • Kurt Cobain, Love and Patrick Stump
  • business teachers


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