thismis a business venture (private or public) it is a combination of initiative forsight and willingness to take risk required to be successful
business / enterprize
1 of 17
Venezuela swapping oil for goods from CARICOM is an example of what?
barter
2 of 17
this term means " the means of exchange"
barter
3 of 17
what is an entrepreneur
this is someone who has a business idea or venture and assume responsibilities in order for it to be successful
4 of 17
sole trader partnership and companies are examples of
types of businesses
5 of 17
this term means the surplus after all the costs of a business in a particular period have been deducted from total sales
profit
6 of 17
this term is a seperate legally identity owned by shareholders who appoint a board of directors to make major decisions and is registered with government office
company
7 of 17
what business can shareholders buy and sell shares easily. They can also increase investment or over sell part of it
public company
8 of 17
in a patnership is ther limited liability or unlimited liability
unlimited( they are responsible for all debt)
9 of 17
in apatnership what do you call a partner who contributes to capital but have no active role
sleeping partner
10 of 17
this term means the individual owns and runs their own business
sole trader
11 of 17
what are the factors of prodcution
land labor capital enterprise
12 of 17
can excessive loss force a business to leave the industry
yes
13 of 17
what is the exchange of goods and services
trade
14 of 17
does a sole trader invests his own capital to start up his business
yes
15 of 17
what is unlimited liabilty
the owner is responsible for the debt
16 of 17
define linmited liabilty
you are not personality responsible for the debt
17 of 17
Other cards in this set
Card 2
Front
Venezuela swapping oil for goods from CARICOM is an example of what?
Back
barter
Card 3
Front
this term means " the means of exchange"
Back
Card 4
Front
what is an entrepreneur
Back
Card 5
Front
sole trader partnership and companies are examples of
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