Business Studies Unit 1

What is a sole trader?

Advantages of being a sole trader?

Disadvantages of being a sole trader?

What is a Partnership?

Advantages of a partnership?

Disadvantages of a partnership?

What is the document that should be made when a partnership forms?

What is a silent partner?

What is a limited company?

What is an LTD

What is a PLC?

Advantages of an LTD?

Disadvantages of an LTD?

Advantages of a PLC?

Disadvantages of a PLC?

What are the two documents required for a Limited company?

What is a social enterprise?

Two examples of a social enterprise?

Examples of Internal sources of finance?

Examples of External sources of finance.

Who are the internal customers?

Who are the external customers?

Why is value added a good thing?

What is the difference between an aim and an objective?

What are the five main business aims?

Alternative goals for the public sector businesses and social enterprises?

What is a stakeholder?

Examples of internal stakeholders

examples of external stakeholders

what are the ***TYPES*** of production.

*key word*

what are the **FACTORS** of production?

what are the **METHODS** of production?

What is Flow production?

Advantages of flow production?
(also known as mass production)

Disadvantages of flow production?

What is batch production?

Advantages of batch production?

Disadvantages of batch production?

What is job production?

Advantages of job production?

Disadvantages of job production?

What is CAM?

What is CAD?

What are the advantages of technology?

What are the disadvantages of technology?

What is Quality assurance?

Benefits of quality assurance?

What are the Quality Standards

What is the cost of health and safety?

What are the benefits of health and safety?

What is primary market research?

What is secondary market research?

Methods of Market research?

What are the two types of sampling?

What is a highly compeditive industry?

What is a highly concentrated industry?

What does level of competition depend on?

What are the indicators of level of competition?

How can a company manage their competition?

What is the marketing mix?

What does price depend on?

What are the pricing strategies?

What are the main stages in a product life cycle?

What is the saturation point?

How can you extend the life of a product?

What is advertising?

What are the methods of advertising?

What is a sales promotion?

Examples of sales promotions.

What is the channel of distribution?

What are the three main channels of distribution?

What does your choice of distribution channel depend on?

What is marketing?