Business class Quiz

Which one of the following is NOT a benefit of being a sole trader?

• Keep all profits

• Own boss

• Pursue personal goals

• Shared responsibility

Which of the following would have been obtained from internal data?

• Articles in parenting magazines

• Competitor websites

• Government statistics on birth rates

• Sales figures showing the shop’s best-selling products

Which of the following is an internal stakeholder of a business that trades as a partnership?

• A customer

• A shareholder

• A supplier

• An employee

What is the final stage of the product life cycle?

• Decline

• Delegation

• Distribution

• Diversification

Which of these is an example of digital communication?

• A face-to-face interview

• A letter

• A magazine

• A website

An organizational chart shows?

• The role of employees and where they fit in the business.

• What products the business sells. 

• The details of salaries and wages of all employees in the organization.

• How the organization communicates with its customers.

Which ONE of the following best describes the term ‘communication’?

• The ability to talk clearly in public.

• The ability to make people listen to important information.

• Where a receiver has to listen to information.

• Two people, a sender, and a receiver transferring information.

A business breaks even at the level of output where?

• total profits = total costs

• fixed costs = total revenue

• variable costs = fixed costs

• total revenue = total costs

The product life cycle below shows sales of a product over time. What is Phase 3 called?

• Growth

• Decline

• Maturity

• Introduction

What is a market segment?

• Information about opinions, judgments, and attitudes

• Goods or services sold to foreign buyers

• Part of a market that contains a group of buyers with similar buying habits

• Raw materials such as coal, oil, copper, iron ore, and wheat