Multi-Choice Quiz for Year 10 GCSE Business Students

When two clothing stores join forces to become one larger store, it is called:

• Takeover

• Acquisition

• Horizontal integration

• Merger

Opening a new branch in another city is an example of:

• Internal growth

• External growth

• Merger

• Acquisition

A bakery that makes bread falls under which sector of industry?

• Primary

• Secondary

• Tertiary

• Quaternary

The opportunity cost of attending a concert is:

• The price of the concert ticket.

• The value of your next best alternative activity.

• The cost of transportation to the concert.

• The amount of money you saved for the concert.

Scarcity arises because:

• Resources are unlimited and wants are limited.

• Resources are unlimited and wants are unlimited.

• Resources are limited and wants are unlimited.

• Resources are limited and wants are nonexistent.

Which sector is likely to employ the most marketing staff?

• Primary

• Secondary

• Tertiary

• Quaternary

Added value is calculated by:

• Selling price - Cost of production

• Selling price - Variable costs

• Selling price - Cost of bought-in materials

• Fixed costs + Profit

Which of the following is NOT considered a need?

• Food

• Smartphone

• Water

• Transportation