Podcast
Questions and Answers
Local businesses primarily serve customers who live far away from their business.
Local businesses primarily serve customers who live far away from their business.
False
A national business operates within a single country and does not serve international markets.
A national business operates within a single country and does not serve international markets.
True
International businesses operate and sell their products/services in only one country.
International businesses operate and sell their products/services in only one country.
False
Globalization has led to an increase in the number of stakeholders for businesses.
Globalization has led to an increase in the number of stakeholders for businesses.
Signup and view all the answers
Stakeholders are individuals who have no interest in what a business does.
Stakeholders are individuals who have no interest in what a business does.
Signup and view all the answers
Small local businesses face challenges related to financial funds and customer acquisition.
Small local businesses face challenges related to financial funds and customer acquisition.
Signup and view all the answers
The three primary factors of production are labour, land, and entrepreneurship.
The three primary factors of production are labour, land, and entrepreneurship.
Signup and view all the answers
The tertiary sector is more important in economically developed countries than in emerging countries.
The tertiary sector is more important in economically developed countries than in emerging countries.
Signup and view all the answers
The secondary sector mainly involves farming and mining activities.
The secondary sector mainly involves farming and mining activities.
Signup and view all the answers
In countries with high GDP per capita, the primary sector contributes significantly to the economy.
In countries with high GDP per capita, the primary sector contributes significantly to the economy.
Signup and view all the answers
Globalization has led to a decrease in the importance of the third sector in developed countries.
Globalization has led to a decrease in the importance of the third sector in developed countries.
Signup and view all the answers
The primary sector includes industries like banking, insurance, and coaching.
The primary sector includes industries like banking, insurance, and coaching.
Signup and view all the answers
GDP is a perfect indicator of economic wellbeing in a country.
GDP is a perfect indicator of economic wellbeing in a country.
Signup and view all the answers
Not-for-profit organizations aim to make a profit for their owners and investors.
Not-for-profit organizations aim to make a profit for their owners and investors.
Signup and view all the answers
Every business, regardless of being profit-oriented or not-for-profit, needs to achieve a certain level of revenue to survive long-term.
Every business, regardless of being profit-oriented or not-for-profit, needs to achieve a certain level of revenue to survive long-term.
Signup and view all the answers
99% of all businesses in the EU are considered MSMEs (Micro, Small, Medium Enterprises).
99% of all businesses in the EU are considered MSMEs (Micro, Small, Medium Enterprises).
Signup and view all the answers
The size of a business is not relevant in terms of legal requirements for accounting.
The size of a business is not relevant in terms of legal requirements for accounting.
Signup and view all the answers
Profit-oriented businesses do not aim to make a profit because profits are not beneficial for reinvesting.
Profit-oriented businesses do not aim to make a profit because profits are not beneficial for reinvesting.
Signup and view all the answers
