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BUSINESS AND INNOVATION BLC AND BMC QUESTIONS AND CORRECT ANSWERS

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BUSINESS AND INNOVATION BLC AND BMC QUESTIONS AND CORRECT ANSWERS

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All the people who stand to gain or lose by the policies and activities of a business
and whose concerns the business needs to address.


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Stakeholders




A plan that details how a company creates, delivers, and generates revenues.


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business model

, The state of the economy in a country or region, change over time in line with the
economic and business cycle, as an economy goes through expansion and
contraction.


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Economic conditions




This is the birth of the business. In this phase the owner will concentrate on
establishing their Business Model and promoting their products/ services to potential
customers.


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The establishment phase




The total amount charged customers for merchandise sold, including cash sales and
sales on account.


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Sales




The expenses involved with manufacturing, promoting, and distributing a product and
in the general operations of the business.


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February 27, 2026
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