GCSE Business Mock Revision Quiz 2

Which definition best describes external influences

• Factors that are outside the control of a business e.g technology, legislation and economic climate.

• The application of scientific knowledge for practical purposes in business e.g. e-commerce, social media, digital communications, payment systems etc.

• The laws that must be followed in a particular country

• Refers to the performance of the economy e.g. growing when demand and spending is high & shrinking when demand and spending is low. Usually measured by GDP.

Which definition best describes economic climate?

Select one answer:

• The actions a business takes against external influences leading to survival, growth, decline or failure e.g. lowering prices, selling new products, buying new equipment etc.

• The laws that must be followed in a particular country

• Factors that are outside the control of a business e.g technology, legislation and economic climate.

• Refers to the performance of the economy e.g. growing when demand and spending is high & shrinking when demand and spending is low. Usually measured by GDP.

Changes in which of the following external influences is most likely to have led to the development of online businesses such as travel agents?

Select one answer:

• Interest rates

• Technology

• Legislation

• Exchange rates

Which of the following best describes the term economic climate?

Select one answer:

• Factors inside the business that influence its activities

• The measurement of whether the production and consumption of goods/services is strong or poor in a specific country or region

• Government rules and regulations that affect business activity

• Buying and selling goods electronically

Legislation designed to reduce landfill aims to encourage businesses to:

Select one answer:

• Decrease their levels of recycling and send more to landfill

• Decrease their levels of recycling and send less to landfill

• Increase their levels of recycling and send more to landfill

• Increase their levels of recycling and send less to landfill

As unemployment levels fall, in order to recruit the best staff, businesses might respond by:

Select one answer:

• Decreasing wage rates to reduce costs

• Decreasing wage rates to reduce profit levels

• Increasing wage rates to lower staff retention

• Increasing wage rates to increase staff retention

Which two of the following are disadvantages to a business of consumer law?

Select two answers

• Increased costs from having to follow all the rules

• Better reputation for UK businesses- brand image

• Increases the likelihood of legal action (fines, closure etc) if standards are not met

• More customers/sales due to confidence in the product – repeat custom

• Reduces the risk of UK products being undercut by poorly made products from home or abroad – everyone has the follow the rules

Which two of the following are advantages to a business of employment law?

Select two answers:

• Better reputation for UK businesses

• Reduces the risk of accidents, injuries and legal action against the business

• Increased costs from having to follow all the rules

• Increases the likelihood of legal action (fines, closure etc) if standards are not met

• A continuous process to keep up with new legislation increasing costs

Which of the following areas of law prevents businesses from treating customers unfairly?

Select one answer:

• Employment Law

• Health and Safety Law

• National Minimum Wage

• Consumer law

When information is shared electronically between computers it would be best described as?

Select one answer:

• E-commerce

• E-tailer

• M-commerce

• Digital Communication