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Build a Business Unit 1

Authored by Catherine Nelsson

Business

9th - 12th Grade

Used 5+ times

Build a Business Unit 1
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20 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The four main business structures are

Sole trader, Partnership, Business and Company.

Sole trader, Partnership, Company and Trust.

Sole trader, Partnership, Joint Venture and Co-op.

Sole trader, Company, Incorporated Partnership and Business.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

TRUE OR FALSE:

A business is an organised group or person engaged in commercial activities to produce and sell goods and/or provide services usually for the purpose of profit.

True

False

3.

FILL IN THE BLANK QUESTION

2 mins • 1 pt

Markets are places or situations where _____ and sellers can make exchanges.

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The cost of a product is...

How much the product is worth

However much someone is willing to pay for it

How much money was spent producing it

The gap between production cost and sale price

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The value of a product is

What a consumer thinks it is worth to them

How much the seller thinks it is worth

The amount the market sets

The gap between production cost and sale price

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is not part of the promotion marketing mix?

Advertising

Direct marketing

Competitive advantage

Public relations

7.

MULTIPLE SELECT QUESTION

2 mins • 4 pts

Which of the following are pricing strategies/methods

Recommended retail price (RRP)

Quote

Percentage mark-up

Discounting

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