CHECK LIST (01) Number of topic covered Basic Business Concepts Business Environment Interrelationship between Government & Busines Prepared By ANUSHAAL LIYTNAGAE Business Concepts 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. What is “A business & “The business’ Define? Provide 4 differences between Goods and Services Name 3 similarities between goods and services Define “Market” and provide examples for 5 different market types. Explain two markets what you mentioned Find the relationship among Needs / Wants / Products / Business organizations Find the relationship among cost / return / value and satisfaction “Commerce was based on the exchange process” Explain What are economic and Non-economic activities of a business? “Only goods and services are satisfying needs and wants of people” Do you agree with the statement? Justify. Goods can be divided according to usage and durability. Provide complete chart to show all different types of goods comes under it. Briefly explain the Hierarchy of Needs Theory with one example per each. Labour factor can be divided in to 3 types. Name them with an example. What examples will come under “Capital” as a factor of production especially in a restaurant? 30. What is stand as “5 P’s” which are recognized as recent trend in business world but those trends create opportunities for businesses. “Even though there are service producing organizations, they need to use goods to provide the service”. Explain What is the relationship among goods and services, purchasing power, quality of life and business organizations? Name 5 symptoms of a successful business organization except profit. How to define “Commerce” and how to display it? “Trade is not recognized as commerce. But commerce will not be exist if trade is not functioning” Do you agree with the above statement? Comment Explain what is the idea behind “Analytical and Synthetic Industries” concepts “No business can fulfill needs of the society” Comment Name 4 differences between Needs and Wants What criteria to be completed to have an effective demand? What is the association between Demand and Market? Market place and Market Space are two different concepts. Make your comments on this Name 4 differences between “Consumer Goods” and “Industrial Goods” Name 4 goals and 4 objectives of a business What is the price paid for capital and why? Due to what reason the information is importatnt as factors of production? What are the characteristics of Shopping Goods? 31. Trade = ……………… + ………………… 32. Commerce = ……………… + ………………… 33. Business = ……………… + ………………… 34. E- Commerce = ……………… + ………………… 35. E- Business = ……………… + ………………… 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 36. How to define globalization? Name 4 advantags 37. “Business Equation has been change due to high competition”. Comment 38. 39. Name 4 important stages of Business Evolution Name 4 stake holders of a business and mention that what the business expects from them. 40. Define “Job specialization” and name 4 disadvantages of it. 41. “The main aim of the private sector business is profit”. Why are profits so important? Give reasons. 42. The growth of the population will create many issues for a country. But in the other hand it creates many business opportunities. How do you make your comment on this statement? 43. 44. “Emergence of business will depend on problems of society” Comment There are many ways to fulfill your needs and wants. Mention 4 needs and certify how do they satisfy? Provide 4 differences between “Market Place and market Space” Why does GNP in Sri Lanka carrying a great weigh with service sector in past few decades? Provide 4 reasons. What is the relationship among Production, Marketing, and Finance functions of and organization? What sort of changes is notified in business sector after an Industrial Provide at least 4 points) 45. 46. 47. 48.