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Download this complete,fully solved and updated actual exam for CCEA Business Studies AS Unit 1|GUARANTEED SUCCESS £11.24   Add to cart
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Download this complete,fully solved and updated actual exam for CCEA Business Studies AS Unit 1|GUARANTEED SUCCESS
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Business Enterprise Any operation established to produce or supply goods/services desired by consumers generally with a view to making profit. Factors of Production The inputs of land, labour, capital and enterprise required to produce or supply goods/services. Previous Play Nex...

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  • July 13, 2024
  • 23
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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Download
this
complete,f
ully solved
and
updated
actual

,exam for
CCEA
Business
Studies AS
Unit 1
Business Enterprise - answer Any operation
established to produce or supply
goods/services desired by consumers
generally with a view to making profit.

, Factors of Production - answer The inputs of
land, labour, capital and enterprise required
to produce or supply goods/services.


Entrepreneur - answer Someone who starts
and runs a business and has the responsibility
of the risks involved.


Entrepreneurial Characteristics - answer
These are common traits found in successful
entrepreneurs and examples may include
innovative, visionary, flexibility,
knowledgeable, risk taker, decisiveness, goal
orientated, motivated and committed.


Adding Value - answer A business will add
value to raw materials used in its production
process so that there will be a significant
difference between the cost of purchasing raw
materials and the selling prices of the finished
article.

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