Business Studies Christmas Quiz

What are the two main categories of consumer goods?

• Durable and non-durable

• Luxury and essential

• Expensive and cheap

• Digital and physical

What are the factors of production?

• Supply, demand, price, quantity

• Money, resources, products, services

• Marketing, sales, promotion, distribution

• Land, labor, capital, enterprise

What is the formula for calculating profit?

• Sales - Costs

• Expenses - Revenue

• Income - Expenditure

• Gross profit - Net profit

What does S.M.A.R.T. stand for in the context of setting objectives?

• Structured, Measurable, Achievable, Realistic, Timely

• Specific, Measurable, Achievable, Realistic, Time-specific

• Simple, Meaningful, Attainable, Relevant, Timely

• Strategic, Methodical, Actionable, Relevant, Targeted

What is the main purpose of a business plan?

• To provide a roadmap for the business

• To attract investors

• To set goals and objectives for the business

• All of the above

What does CSR stand for in the context of business ethics?

• Corporate Social Responsibility

• Customer Satisfaction Rating

• Company Sustainability Report

• Consumer Support and Responsibility

Who are the owners of the company that the firm has a legally binding duty to put their needs first?

• Customers

• Shareholders

• Stakeholders

• Employees

What is the main difference between public sector and private sector?

• Non-profit vs. for-profit

• Small scale vs. large scale

• Owned by government vs. controlled by individuals or groups

• Controlled by government vs. owned by individuals or groups

What is the formula for calculating market share?

• Sales of the product or brand or business x 100

• Total sales of the company/ Total market sales x 100

• Number of units sold x price per unit

• Current share price x total number of shares issued

What is the main purpose of market segmentation?

• Identifying different segments within a market and targeting different products or services to them

• Selling the same products to the whole market with no attempt to target groups within it

• Exploiting a small segment of a larger market by developing products to suit it

• Creating an identifiable image and clear expectations about a product