The role of business enterprise

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Name a purpose of having a business?
-customers benefit from choices -satisfy needs of consumers -make a profit
1 of 6
Name 3 methods of how to add value:
-branding -quality -convenience -design -unique selling points
2 of 6
What can a business to to increase retained profits?
-add value while keeping costs low
3 of 6
What 4 things does an entrepreneur need to provide a product?
-capital, land, labour & enterprise
4 of 6
Define the term "capital":
- man made resources (goods to produce other goods), money
5 of 6
Define the term "enterprise":
-skills & characteristics to manage labour, land and capital and take risks
6 of 6

Other cards in this set

Card 2

Front

Name 3 methods of how to add value:

Back

-branding -quality -convenience -design -unique selling points

Card 3

Front

What can a business to to increase retained profits?

Back

Preview of the front of card 3

Card 4

Front

What 4 things does an entrepreneur need to provide a product?

Back

Preview of the front of card 4

Card 5

Front

Define the term "capital":

Back

Preview of the front of card 5
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