Business Studies Quiz

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

An entrepreneur is someone 

• Someone who works for a new business
• Someone who starts a new business
• Someone who takes over an existing business
• Someone who does not want to work

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

What is an operating cost?

• Something a business pays before the company starts

• Something the company receives

• Something the company pays for their day to day running

• Something the company cant afford

Which industry sector is an advertising agency part of?

• The primary sector
• The secondary sector
• The tertiary sector

Which industry sector are raw materials a part of?

• The primary sector
• The secondary sector
• The tertiary sector

What is a car an example of?

• A cost
• A service
• A product

Which of the following describes the money going into a business?

• An input
• Revenue
• An output

Which of these is a method of product differentiation?

• Having a unique selling point
• Selling a product in multiple territories
• Introducing a product at a low price

What helps to create brand identity?

• Having multiple products
• An increase in profits
• Creating a logo for the company/product