Year 11 Quiz March 2025

Organize the following statements and examples into WANTS & NEEDS

Groups:

(a) NEEDS

,

(b) WANTS

• Things that are required in order to live

• things that add comfort and pleasure to your life

• Good Education

• A Palm Angels t-shirt

• Shelter

• McDonald's every day

• Food

• Water

• Clean Air

• Good Job

• Clothing

• Add to the quality of life

• Are Essential

• Safety

• Latest mobile phone

• Name Brand Jeans

Tags

Lesson 1

You satisfy your needs and wants by purchasing and consuming what?

• Goods & Services

• Stuff

• Just Goods

• Just Services

Match the following

• Products

• things you can see and touch

• Services

• Includes both Goods & Services

• Goods

• activities provided for satisfaction of others that are consumed at the same time they are provided

What is the primary focus of public relations in a business context?

• To ensure all employees are satisfied

• To promote a business using media and other indirect methods to foster a positive image

• To directly increase sales through advertising

• To manage the financial accounts of the business

What does the term 'Quality assurance' refer to?

• The process of hiring new employees

• The marketing strategies to promote products

• Setting up processes in production to ensure that quality is achieved

• Developing new business locations

Which of the following is an extension strategy used by Coca Cola to extend the product life cycle of Coca Cola (select all that apply)

• Range of can sizes

• Limited edition packaging

• Change brand image

• New flavours

What are the reasons why profits may fall during the decline stage of the product life cycle?

• sales are increasing

• sales volume is decreasing

• prices may have to be cut due to a saturated market

• the business will be spending more on marketing

A Ferrari is likely to have a high price tag because the design mix is focused on which of the following (pick 2)?

• function

• aesthetics

• economic manufacture

A fall in the gross profit margin might suggest ____

• that suppliers are charging higher prices

• that suppliers are charging lower prices

• that the business is charging customers higher prices

• that operating (other) expenses have increased

Kraft took over Cadbury in 2010. Which type of business growth is this an example of?

• Internal (organic) growth

• External growth