NCEA Level 1 Business Studies with correct answers

Small Business Answer An organisation that has less than 20 employees Objective Answer A specific target a business sets itself Seasonality Answer A concept that explains that some businesses experience fluctuating levels of demand throughout the year Longevity Answer The ability of a business to continue to survive in the longer term Mission Statement Answer A summary of the main direction the business is heading in and what they believe in Stakeholder Answer Any person or group with a connection to the business Debtor Answer Someone who owes the business cash Creditor Answer Someone that the business owes cash to Demographics Answer Characteristics of a population Sources of Finance Answer Ways in which businesses can buy items or pay for expenses