GCSE Business Quiz: Key Concepts

Which of the following is NOT one of the 4 Ps of the Marketing Mix?

• Product

• Price

• Promotion

• Profit

Which type of business ownership is characterised by having unlimited liability?

• Sole Trader

• Private Limited Company (Ltd)

• Public Limited Company (PLC)

• Cooperative

Which financial statement shows a company's financial position at a specific point in time?

• Income Statement

• Balance Sheet

• Cash Flow Statement

• Statement of Retained Earnings

Which of the following is a primary market research method?

• Surveys

• Government Reports

• Trade Journals

• Internet Research

What is the main purpose of Human Resources Management?

• To manage the company's finances

• To oversee the production process

• To recruit, train, and manage employees

• To develop marketing strategies

Which of the following is a characteristic of a flat organisational structure?

• Many levels of hierarchy

• Long chain of command

• Wide span of control

• Narrow span of control

Which of the following is NOT a component of a financial statement?

• Assets

• Liabilities

• Equity

• Marketing Budget

Which type of business ownership allows shares to be sold to the general public?

• Sole Trader

• Partnership

• Private Limited Company (Ltd)

• Public Limited Company (PLC)

Which of the following is a secondary market research method?

• Focus Groups

• Observations

• Experiments

• Industry Reports

What is the main advantage of a matrix organisational structure?

• Clear lines of authority

• Flexibility and better communication

• Simple and easy to manage

• Reduced costs