GCSE Business Revision

Which of the following is a benefit of writing a business plan?

• It takes time
• You use a word processor
• You choose what you want to do
• You identify risks

What benefit does limited liability give an entrepreneur?

• More sales
• Access to greater market information
• Reduced number of competitors
• Protection of personal assets

Which of these is not a reason for starting a business?

• To have more time to yourself
• To make a living from something you are interested in doing
• To make money
• To be in control of your own future

Name the four elements of the Marketing Mix? 

• Product, price, promotion, place
• Product, price, promotion, people
• Product, price, promotion, packaging
• Product, price, postage, people

What are the stages in the product life cycle?

• Development, Introduction, Growth, Maturity, Saturation, Decline
• Growth, Maturity, Boom, Bust
• Introduction, Growth, Maturity, Decline
• Growth, Maturity, Saturation, Decline

 What is desk research?

• Finding out information using secondary data
• Finding out information using primary data

Which of the following are not the financial rewards for an entrepreneur?

• Profit
• Bonus
• Commission
• Debt

Entrepreneurs tend to be cautious.

• True
• False

Leadership style that listens to employees and encourages their opinions.

• Democratic
• Laissez Faire
• Autocratic
• Paternalistic

____________ research uses information which is already available

• Primary
• Secondary