Business Studies UNIT 1 REVISON

What is an Entrepreneur?

Entrepreneurs are important to businesses by?

Motives to become an Entrepreneur?

Issues to becoming an Entrepreneur?

What is a Franchise?

What is a Franchisee?

What does a Franchisor control?

What does the Franchisee able to make decisions over?

Advantages of Franchising?

What is Intellectual Property?

What is a Patent?

What is a Trademark?

What is a Copyright?

What is Adding Value?

What is a Business Plan?

What does a Business Plan give?

A good Business Plan should contain?

Benefits of a Business Plan?

Problems of a Business Plan?

What is Unlimited Liability?

Who has Unlimited Liability?

Advantages of a Sole Trader?

Disadvantages of a Sole Trader?

Advantages of Partnerships?

Disadvantages of Partnerships?

What is Limited Liability?

Advantages of Limited Liability?

Disadvantages of Limited Liability?

What is Primary Market Research?

What is Secondary Market Research?

Advantages of Primary Market Research?

Disadvantages of Primary Market Research?

Advantages of Secondary Market Research?

Disadvantages of Secondary Market Research?

What is Quantitative Research?

What is Qualitative Research?

What is Random Sampling?

What is Quota Sampling?

What is Stratified Sampling?

What are the factors that potentially influence the sampling method?

What are the Key Elements to any market?

What is a Local Market?

What is a National Market?

What is an Electronic Market?

What are the Key Characteristics of electronic markets?

What is the Market Change Formula?

What is the % in Market Change Formula?

What is the Market Share Formula?

Advantages of being a Market Leader?

Advantages of Market Segmentation?

Disadvantages of Market Segmentation?