11. Business concepts (and F1)

What does Virtual Product Development (VPD) involve?

• Manufacturing products in a physical factory

• Developing and prototyping a product in a digital environment (2D or 3D)

• Selling products online

• Testing products in real-world conditions

What is meant by 'wants' in the context of customers?

• Essential products required for survival

• The desire for a product that is not necessary but one that the customer wishes to buy

• Products that are free of charge

• Products that are always in stock

What is the purpose of a website audit?

• To increase the number of products on a website

• Analysing the factors that affect the visibility in search engines of a business’s website

• Designing a new website layout

• Reducing website loading times

What is another term for 'working capital'?

• Net current assets

• Fixed assets

• Gross profit

• Shareholder equity

What does the term 'zero defects' refer to in quality management?

• Allowing a small number of defects

• Ensuring quality and seeking to reduce defects to zero through a ‘right first time’ approach

• Ignoring minor defects

• Only checking products at the end of production

Jenson Button won the 2009 Formula One World Championship driving for which team?

• McLaren

• Brawn GP

• Red Bull Racing

• Ferrari

In 2016, who became F1 World Champion and then announced his retirement from the sport five days later?

• Lewis Hamilton

• Nico Rosberg

• Sebastian Vettel

• Fernando Alonso

Which three prestigious motor races make up The Triple Crown of Motorsport?

• Monaco Grand Prix, British Grand Prix, Italian Grand Prix

• Indianapolis 500, 24 Hours of Le Mans, Monaco Grand Prix

• Monaco Grand Prix, Singapore Grand Prix, 24 Hours of Le Mans

• Indianapolis 500, 24 Hours of Le Mans, Japanese Grand Prix

Who is the only driver ever to win the Triple Crown of Motorsport?

• Lewis Hamilton

• Graham Hill

• Ayrton Senna

• Alain Prost

Who was the first ever British Formula One World Champion?

• Jackie Stewart

• Mike Hawthorne

• Jim Clark

• Nigel Mansell