Higher Business Management Study guides, Class notes & Summaries

Higher Business Management Finance Exam QuestionsAnd Answers Advantages of a Bank Loan - ANSWER-- the business can budget for the repayments - purchases of essential equipment can be made in advance and paid back over a number of years .Advantages of a Bank Overdraft - ANSWER-- usually easy for a business to arrange with its bank - it allows a business to continue to pay its expenses, despite there b...

Higher Business Management (Full Course) Questions and Answers ( Verified solutions) Business - ANS- Any organisation working towards a set of objectives Goods - ANS- Things we can see and touch Durable Goods - ANS- Things we can use again and again Non-durable goods - ANS- Things we can use only once Service - ANS- A thing that is done for us Wants - ANS- Non-essential things we would like to have Needs - ANS- Essential things for survival Land - ANS- An economic term meaning natural...

Goods - correct answertangible products that we use to satisfy our wants and needs Services - correct answerintangible products Trade Descriptions Act - correct answera law whereby a good or service must do what the advertising claims Monopolies and Mergers Act - correct answera law aimed at preventing domination of a market by one or two firms ITC - correct answerIndependent Television Comission Monopoly - correct answer(economics) a market in which there are many buyers but only...