Podcast
Questions and Answers
What is the main goal of a business?
What is the main goal of a business?
To make profit
Define a business according to the text.
Define a business according to the text.
An organised effort of individuals to produce and sell products for a profit that satisfy individuals' wants and needs.
List three main activities a business undertakes.
List three main activities a business undertakes.
Production management, marketing products, distributing goods and services
What is the formula for profit in a business?
What is the formula for profit in a business?
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Explain the importance of profit for a business.
Explain the importance of profit for a business.
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What are some key roles of a business in society?
What are some key roles of a business in society?
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What is the difference between wages and salary?
What is the difference between wages and salary?
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What is a fringe benefit?
What is a fringe benefit?
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Define entrepreneurship.
Define entrepreneurship.
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What does innovation refer to?
What does innovation refer to?
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Why is choice important in the context of business?
Why is choice important in the context of business?
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What is the role of owners in a business if it generates profit?
What is the role of owners in a business if it generates profit?
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