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- 1. Multiple Choice
What can an enterprise do to try and manage external factors?
Have a contingency plan
Increase their price
Go into liquidation
Report the external factors to the police
- 2. Multiple Choice
Costs can go up or down – this is referred to as a _____
start up cost
fixed cost
gross profit
fluctuation.
- 3. Multiple Choice
_____ are all the elements that go into making products or offering services.
External factors
Raw materials
Internal factors
Economic conditions
- 4. Multiple Choice
When an enterprise borrows money, they will pay _____.
VAT.
corporation tax.
an interest charge.
the minimum wage.
- 5. Multiple Choice
If the interest rate goes up, an enterprise must _____
pay more interest.
pay higher VAT rates
pay higher corporation tax rates.
pay less interest.
- 6. Multiple Choice
The UK government often makes changes that have a _____________.
minuscule impact on enterprises.
positive impact on enterprises.
negative impact on enterprises.
positive or negative impact on enterprises.
- 7. Multiple Choice
What does the S in SWOT analysis stand for?
Sales
Strengths
Service
Sector
- 8. Multiple Choice
What does the W in SWOT analysis stand for?
Weaknesses
Wages
Weighted
Withdrawal
- 9. Multiple Choice
What does the O in SWOT analysis stand for?
Optimistic
Optional
Opportunities
Openness
- 10. Multiple Choice
What does the T in SWOT analysis stand for?
Tastes
Taxation
Technological
Threats
- 11. Multiple Choice
If the economy is struggling, the UK may enter a ____.
economy.
era of prosperity.
recession.
target market.
- 12. Multiple Choice
Which of the following is an external factor?
Researching the market
Keeping customer satisfied
Understanding the market
Consumer behavior
- 13. Multiple Choice
Which of the following is a raw material for Coca Cola?
Insurance fees payable
Cost of equipment
Sugar
Interest rates
- 14. Multiple Choice
Which of the following is a raw material for McDonalds?
Beef
Interest rates
The minimum wage
Energy costs
- 15. Multiple Choice
_____ is the money made from selling a product after the cost of sales have been deducted.
Variable costs
Fixed costs
Gross profit
Sales revenue
- 16. Multiple Choice
A ____ is the sum of money borrowed that is expected to be paid back to the lender.
fluctuation
loan
refund
raw material
- 17. Multiple Choice
_____ is the amount of money an enterprise must pay the government each year based on how much profit they made.
Taxation
Minimum wage
Interest rate
Gross profit
- 18. Multiple Choice
In a recession ______
people feel confident about the future.
people worry about whether their jobs are safe.
people spend more money.
employment levels are very high.
- 19. Multiple Choice
In a recession _____
people have more disposable income.
people tend to buy more luxurious items.
people buy more expensive items.
people only spend money on essential things.
- 20. Multiple Choice
If consumer confidence is high _____
people worry about how safe their jobs are.
people prefer to save their money.
people are happier to spend their money.
people feel less confident about their future.
- 21. Multiple Choice
______ is the system by which a country's money and goods are produced and sold.
An economy
An enterprise
A consumer environment
A premises
- 22. Multiple Choice
_____ are the trends or fashions that a consumer may follow.
Government regulations
Competitors
Legislation
Tastes
- 23. Multiple Choice
_____ relates to the laws of a country, which everyone must obey.
Legislation
Consumer behavior
Consumer confidence
Market rivalry
- 24. Multiple Choice
Which one of the following is an internal factor?
Cost of raw materials
Keeping customer satisfied
Consumer legislation
Consumer confidence
- 25. Multiple Choice
Which one of the following is an internal factor?
Effective planning and financing
Consumer confidence
Changes in taxation
Interest rates
- 26. Multiple Choice
Changes in technology can shorten ____
market share
product life cycles
Porter's Five Forces
Ansoff's Matrix
- 27. Multiple Choice
Developments in technology can mean that a business replaces ____
directors with shareholders
sustainability with ethics
strategy with objectives
labour with machinery.
- 28. Multiple Choice
The population in the UK is ageing. This is a ____ factor.
social
economic
political
legal
- 29. Multiple Choice
People are becoming _____
more competitive
less health conscious.
more health conscious
more consolidated
- 30. Multiple Choice
High unemployment rates is an example of ____
a legal factor
the changing competitive environment.
prosperity.
an economic factor.
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