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Business
9th -
10thgrade
Business Studies - Unit 6 External influences
20 questions
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- 1. Multiple Choice
External influences on a business refer to
Factors that are good for the business
Factors that are bad for a business
Factors that are outside the control of the business
Illegal actions by a business
- 2. Multiple Choice
What do the letters GDP stand for in Business and Economics?
Gateway Discovery Protocol
General Defense Plan
Gross Domestic Product
Ground Data Processing
- 3. Multiple Choice
The GDP of an economy measures...
The value of the nation's output
The national income
The money spent buying all of the national output
All of the above
- 4. Multiple Choice
Income that has been adjusted to take account of inflation is called ...
Income per capita
Real income
Average income
Total Income
- 5. Multiple Choice
Enterprise is the act of ...
Making a profit
Borrowing money
Buying shares
Taking the risk of starting a business
- 6. Multiple Choice
Two features of an economic boom are ...
Deflation and rising unemployment
Labour shortages and inflation
Rising business investment and low consumer confidence
Rising profit levels and falling wage rates
- 7. Multiple Choice
Profit is ...
Another name for revenue
Revenue plus costs
The income earned from sales
Revenue minus costs
- 8. Multiple Choice
Which one of the following is NOT an external influence?
Minimum wage laws
The size of the workforce
Health and Safety regulations
Bank interest rates
- 9. Multiple Choice
Economic growth is good for most businesses because ...
Inflation raises the cost of production
Interest rates rise and more saving takes place
Rising incomes means higher consumer spending
Higher levels of tax will be paid
- 10. Multiple Choice
If interest rates go up ...
People with mortgages have to pay more to the bank each month
People are less likely to buy on credit cards
People with mortgages have to pay less to the bank each month
People are more likely to buy on credit cards
- 11. Multiple Choice
If the government increases corporation tax...
Businesses have less profit to reinvest
Businesses have more profit to reinvest
New businesses are likely to start up
Monopolies will become stronger
- 12. Multiple Choice
If a business is facing increased costs due to landfill tax on rubbish they could...
Increase their recycling
Dump the rubbish in the woods and hope no one notices
Produce more packaging
- 13. Multiple Choice
When interest rates are high, people are more likely to do what?
Select all that apply:
Get loans from the bank
Save money in the bank
Buy luxury goods
Buy essential goods
- 14. Multiple Choice
When interest rates are high, a business's revenue is more likely to ...
Increase
Decrease
Stay the same
- 15. Multiple Choice
An increase in the national minimum wage can cause a business' ...
Variable costs to increase
Fixed costs to increase
Direct costs to decrease
Indirect costs to increase
- 16. Multiple Choice
Which of the following is a tool used in Fiscal Policy?
Privatisation
Taxes
Interest rates
Training
- 17. Multiple Choice
Which of the following is NOT an aim of governments in most countries?
Increase the number of Monopolies
Lower Inflation
Economic Growth
Reduce Unemployment
- 18. Multiple Choice
What is the definition of Inflation?
the total value of the country's goods and services
a general increase in prices and fall in the purchasing value of money
the number or proportion of people with out work
an increase in the amount of goods and services produced per head of the population over a period of time
- 19. Multiple Choice
What is a recession?
an increase in the amount of goods and services produced per head of the population over a period of time
the expansion and peak phase of the business cycle. GDP, which measures a nation's economic output, increases
a significant decline in economic activity or when there is negative economic growth
a general increase in prices and fall in the purchasing value of money
- 20. Multiple Choice
Which of the following is NOT an advantage of privatisation as an economic policy?
Improved efficiency as profit incentive leads to cutting cost and reducing waste
There are many industries which perform an important public service, e.g., health care, education and public transport
It allows more firms to enter the industry and increase the competitiveness of the market which can improve efficiency
Selling state-owned assets to the private sector raised significant sums for the government as well as tax revenue
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