Oxford AQA International Business GCSE 3.1.1

Which of the following statements best describes the term, unique selling point? When a business:

• Establishes a clear target market for its products

• Develops an aspect of a product that makes it different to its rivals

• Develops an aspect of a product that makes it different to its rivals

• Produces a range of goods and services

Which of the following would be found in the Secondary Sector?

• Farm

• Sporting Goods Shop

• Accountant

• Barber

The main purpose of which of the following businesses is to provide a service to customers?

• An independent bakery

• A specialist skateboard producer

• A dog grooming parlour

• A farm

Which of the following statements best describes the term, entrepreneur?

• Someone who buys a product from a business

• Someone who uses goods and services produced by a business

• Someone who works for a business

• Someone who is willing to take the risk involved in starting a business

In order to add value, local grocery stores often sell cheese that has already been grated for the customer. This adds value through:

• Quality

• Convenience

• Branding

• Customer service

Which of the following statements best describes the term, added value?

• When a product stands out from those of its competitors

• Making a product widely recognisable

• The difference between the cost of a product and its selling price

• Making a product convenient to use

Which of the following is a disadvantage of being an entrepreneur?

• Ability to pursue an interest

• Flexible working hours

• Possible financial loss

• Being your own boss

Which of the following is a financial reason why an entrepreneur might start-up a new business?

• To make a profit

• To pursue a skill or interest

• To have more freedom in decision-making

• To achieve a work-life balance

Which of the following statements is true in relation to goods and services?

• Services can be touched and held, whilst goods are usually invisible

• Goods can be touched and held, whilst services are intangible

• Services are visible, whilst goods are usually invisible

• Both goods and services are intangible

Which factor of production can be renewable or non-renewable?

• Capital

• Enterprise

• Labour

• Land