Enterprise
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Define enterprise | The factor of production that organises other factors of production i order to produce a good or service and takes all the risk in order to make a profit
🗑
|
||||
| What is the return on enterprise? | Profit/loss
🗑
|
||||
| How is enterprise different from other factors of production? | It can earn a loss.
Returns can vary.
Return is residual.
🗑
|
||||
| Name two kinds of risks | Insurable and non insurable
🗑
|
||||
| Name 4 kinds of profit. | Normal, supernormal, implicit, and explicit.
🗑
|
||||
| Name 8 reasons profit is important | Risk taking.
Indicates best use of resources.
Encourages investment.
Provide funds for expansion.
Continuity of production.
Rewards inovation.
Provides the government with revenue.
Promotes mergers/take overs.
🗑
|
||||
| Name 7 reasons entrepreneurs are important | Create employment.
Organise production.
Decide prices.
Encourage investment.
Provide investment outlet.
Generate gov. revenue.
Create wealth in country.
🗑
|
||||
| Define rent of ability | The SNP earned by an entrepreneur due to their innate talent
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
JackEatonK98
Popular Economics sets