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Ib Business And Management Unit 1 Review Questions And Correct Verified Answers

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Ib Business And Management Unit 1 Review Questions And Correct Verified Answers

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IB BUSINESS AND MANAGEMENT UNIT 1
REVIEW QUESTIONS AND CORRECT
VERIFIED ANSWERS
WhatA2isA2aA2businessA2-A2Ans--AA2decision-
makingA2organizationsA2thatA2isA2involvedA2inA2theA2makingA2ofA2goodsA2andA2services

GoodsA2vsA2ServicesA2-A2Ans--
AA2goodA2isA2aA2tangibleA2itemA2andA2aA2serviceA2isA2intangible

CustomersA2vsA2ConsumersA2-A2Ans--
AA2customerA2buysA2theA2productA2butA2aA2consumerA2usesA2theA2product

OperationsA2-A2Ans--ConvertingA2rawA2goodsA2intoA2finishedA2products

FinanceA2-A2Ans--MoneyA2management

HumanA2ResourceA2-A2Ans--ManagesA2theA2personelA2ofA2theA2business

MarketingA2-A2Ans--IdentifyingA2andA2satisfyingA2theA2needsA2andsA2wantsA2ofA2customers

PrimaryA2SectorA2-A2Ans--Exstracting,A2harvesting,A2andA2convertingA2naturalA2resources

SecondaryA2SectorA2-A2Ans--ManufacteringA2andA2constructionA2ofA2products

TertiaryA2SectorA2-A2Ans--ServicesA2forA2generalA2public

QuaternaryA2SectorA2-A2Ans--SharingA2ofA2information

ChainA2ofA2productionA2-A2Ans--TheA2variousA2stagesA2involvedA2withA2production

SectoralA2ChangeA2-A2Ans--WhenA2aA2countryA2changesA2fromA2oneA2sectorA2toA2another

EntrepreneurA2vsA2IntrapreneurA2-A2Ans--EntrepreneurA2ownsA2theA2businessA2-
A2IntrapreneurA2thinksA2likeA2anA2entrepreneurA2butA2fromA2insideA2theA2business


MainA2reasonsA2forA2startingA2aA2businessA2-A2Ans--
Money,A2Growth,A2ChallengeA2(andA2aA2fewA2more)

MainA2stepsA2inA2startingA2aA2businessA2-A2Ans--BusinessA2plan,A2Start-
upA2capital,A2registerA2business,A2businessA2bankA2account,A2marketing

ProblemsA2newA2businessA2mayA2faceA2-A2Ans--Mismanagement,A2badA2cash-
flow,A2notA2enoughA2money

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