This bingo card has a free space and 24 words: Using examples, explain the difference between fixed costs and variable costs, What is opportunity cost?, What are the benefits of specialization?, What is meant by primary sector?, Explain 2 differences between the private and public sector, Identify 2 ways of measuring the size of a business, Identify 4 common reasons why new business fail, Identify three advantages of setting up a business through a franchise agreement, What is meant by a social enterprise?, What is meant by the term Kaizen?, Explain the difference between Herzbergs's motivators and hygiene factors, What is Taylor's scientific management theory ?, Identify the 5 quantitative factors in a choosing a location for the business, Explain the disadvantages of having a tall chain of command, What are the functions of a trade union?, The advantages and disadvantages of on the job training, Identify and explain the four methods of communication, What is meant by marketing segmentation, What is niche marketing?, The benefits and limitations of primary research, Explain how a business could experience and benefit from economies of scale, What is meant by Cost-plus pricing, Identify the 4 channels of distribution and What are the main methods of production.
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