Year 10 Baseline Assessment - Unit 1

What is the primary goal of a business?

• To produce goods or services
• To employ people
• To close down
• To create advertisements

Which of the following is a key characteristic of an entrepreneur?

• Avoids risks
• Prefers to work alone
• Takes risks
• Dislikes change

What is meant by the term 'market research'?

• Researching the weather
• Finding out what consumers want
• Investigating a competitor's products
• Studying ancient markets

What does 'profit' mean in business?

• The total amount of sales
• The amount left after all costs are paid
• The total number of products made
• The salary of the employees

Which of the following is a type of business ownership?

• Sole trader
• Partnership
• Private limited company (Ltd)
• All of the above

Why is understanding customer needs important for a business?

• To generate sales and ensure survival
• To confuse the competition
• To reduce the number of employees
• To create complex products

What is 'e-commerce'?

• Trading goods at a market
• Buying and selling goods online
• A method of transportation
• Advertising in newspapers

Which of the following is an example of primary market research?

• Reading a report online
• Conducting a survey
• Watching a TV advertisement
• Using government statistics

What is a 'stakeholder'?

• A person who works in a factory
• Someone who has an interest in the business
• A type of investor
• An individual who manages the company

What is the impact of new technology on businesses?

• Increases costs only
• Has no effect
• Can increase efficiency and reduce costs
• Makes businesses obsolete