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- 1. Multiple Choice
what are the 4p's
price,product, people, promotion
promotion, packaging, place people
price, product, place, promotion
place, product, penguin, packaging
- 2. Multiple Choice
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
- 3. Multiple Choice
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
- 4. Multiple ChoiceAn 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
- 5. Multiple Choice
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
- 6. Multiple ChoiceWhich industry sector are raw materials a part of?The primary sectorThe secondary sectorThe tertiary sector
- 7. Multiple ChoiceWhat is a car an example of?A costA serviceA product
- 8. Multiple ChoiceWhat helps to create brand identity?Having multiple productsAn increase in profitsCreating a logo for the company/product
- 9. Multiple ChoiceWhich 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.
- 10. Multiple Choice
Which 3 of the following costs would be considered as expenses?
Rent
Utility bills
Materials
Tax
- 11. Multiple ChoiceWhat 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
- 12. Multiple ChoiceWhat 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.
- 13. Multiple ChoiceWhat 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.
- 14. Multiple ChoiceHow 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.
- 15. Multiple ChoiceIn order to be successful a business needs to?Identify its customers needs and wantsHave a big shopSell products really cheapHave lots of sales
- 16. Multiple ChoiceWhat 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.
- 17. Multiple ChoiceWhat are the main categories of market segmentation?Location, Demographics and IncomeWhere they go to school
- 18. Multiple ChoiceWhat is Quantitative data?Data that is normally numericalBased on opinions, attitudes and beliefs.
- 19. Multiple Choicewhat is Qualitative DataData that is normally numericalBased on opinions, attitudes and beliefs.
- Answer choicesTagsAnswer choicesTags