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Business
1st -
Professional Developmentgrade
2.2 business studies
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19 questions
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- Multiple ChoicePlease save your changes before editing any questions.
what are the 4p's
price,product, people, promotion
promotion, packaging, place people
price, product, place, promotion
place, product, penguin, packaging
- Multiple ChoicePlease save your changes before editing any questions.
what must enterprises do?
They must employ people of he community.
Deal with administrative task of a Union.
Look at workers performances.
They should develop detailed descriptions of each job
- Multiple ChoicePlease save your changes before editing any questions.
What is a sole trader?
A person who is the exclusive owner of a business.
Two people who own a business.
A group of people who own a business
- Multiple ChoicePlease save your changes before editing any questions.An entrepreneur is someoneSomeone who works for a new businessSomeone who starts a new businessSomeone who takes over an existing businessSomeone who does not want to work
- Multiple ChoicePlease save your changes before editing any questions.
Start up costs are...
the amount of money spent setting up a business
money spent on a regular basis to keep a business running
Fixed Costs + Variable Costs
costs which change with output
- Multiple ChoicePlease save your changes before editing any questions.Which industry sector are raw materials a part of?The primary sectorThe secondary sectorThe tertiary sector
- Multiple ChoicePlease save your changes before editing any questions.What is a car an example of?A costA serviceA product
- Multiple ChoicePlease save your changes before editing any questions.What helps to create brand identity?Having multiple productsAn increase in profitsCreating a logo for the company/product
- Multiple ChoicePlease save your changes before editing any questions.Which of the following is the best definition of PROFIT?The total amount of income a business makes from selling products or servicesThe amount of money a business has left over after paying for their costs.The total amount of money a business spends.
- Multiple ChoicePlease save your changes before editing any questions.
Which 3 of the following costs would be considered as expenses?
Rent
Utility bills
Materials
Tax
- Multiple ChoicePlease save your changes before editing any questions.What is the definition of a fixed cost?A cost that varies with outputA cost that does not vary with outputCosts that do not changeCosts that change only when agreed
- Multiple ChoicePlease save your changes before editing any questions.What is Primary Research?Primary Research involves gathering new data that has not been collected before. For example, surveys using questionnaires or interviews with groups of people in a focus group.Primary Research involves gathering existing data that has already been produced. For example, researching newspapersPrimary Research involves gathering existing data that has already been produced. For example, researching the internetPrimary Research involves gathering existing data that has already been produced. For example, researching company reports.
- Multiple ChoicePlease save your changes before editing any questions.What is Secondary Research?involves gathering new data that has not been collected before. For example, surveys using questionnaires or interviews with groups of people in a focus group.involves gathering existing data that has already been produced. For example, researching the internet, newspapers and company reports.
- Multiple ChoicePlease save your changes before editing any questions.How can a business reduce the risk of failure?By selling less productsBy keeping the cost of their products lowBy carrying out market researchBy staying open late.
- Multiple ChoicePlease save your changes before editing any questions.In order to be successful a business needs to?Identify its customers needs and wantsHave a big shopSell products really cheapHave lots of sales
- Multiple ChoicePlease save your changes before editing any questions.What is meant by 'adding value'?The money a company invests into a new productthe difference between the price of the finished product/service and the cost of the inputs involved in making it.
- Multiple ChoicePlease save your changes before editing any questions.What are the main categories of market segmentation?Location, Demographics and IncomeWhere they go to school
- Multiple ChoicePlease save your changes before editing any questions.What is Quantitative data?Data that is normally numericalBased on opinions, attitudes and beliefs.
- Multiple ChoicePlease save your changes before editing any questions.what is Qualitative DataData that is normally numericalBased on opinions, attitudes and beliefs.