What is meant by business objectives
Identify two reasons for a business having objectives
Identify and explain two objectives of business in the private sector
Identify and explain two reasons why objectives might change over time
What is meant by 'entrepreneur'
Identify and explain two ways to reduce risk of starting a business
Identify two possible reason why a business has remained small
State two problems using number of employees to measure the size of business
Identify two ways to measure the size of a business
Identify two ways to measure business success
What is meant by market share?
Identify two advantages of being a large business
State two features of a private sector business
Identify and explain two ways objectives of a firm may be different if it was in the private sector
What is meant by ‘uses specialisation’?
Define Profit
Calculate the total cost of producing 3 million cricket bats
What is meant by ‘total cost’?