Summary
Summary Business Management 113
- Course
- Institution
Summary of 17 pages for the course Business Management at SUN
[Show more]
Seller
Follow
USstudent
Reviews received
Available practice questions
Business Managment 113 Flash Cards
Flashcards
34 Flashcards
Free
5 sales
Flashcards
34 Flashcards
Free
5 sales
Some examples from this set of practice questions
1.
Business can be defined as?
Answer: The organised effort of individuals to produce and sell a product or service to make a profit.
2.
What are the 4 resources of business?
Answer: Material Resources Human Resources Financial Resources Information Resources
3.
Define material business resources?
Answer: Raw materials used in production, as well as the assets owned by the business.
4.
Define human business resources?
Answer: The efforts of individuals in the form of labour.
5.
Define the financial resources of a business?
Answer: Money used to produce the goods and services. i.e the wages paid to employees.
6.
What are the information resources of a business?
Answer: The information that management uses to see how well the other 3 factors have been combined and used.
7.
What is business profit?
Answer: What remains after all the business expenses have been deducted from sales revenue.
8.
What is the definition of economics?
Answer: Refers to all the different parties that are affected by the different decisions that need to be made by the organisation.
9.
What are the 4 factors of production?
Answer: Land & Natural resources Labour resources Capital resources Entrepreneurship
10.
What are land & natural resources (factors of production)?
Answer: Elements that can be used in the production process to produce the end product.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller USstudent. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.75. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
97168 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now