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Business Planning: Topic 3 Key Concepts

Authored by Rebecca Denford

Business

11th Grade

Used 1+ times

Business Planning: Topic 3 Key Concepts
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is a key topic covered under "Business Planning" in Topic 3?

Small to medium enterprises (SMEs)

Marketing strategies

International trade agreements

Environmental sustainability

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT listed as a focus area in the business planning process according to Topic 3?

Critical issues in business success and failure

The business planning process

Influences in establishing a small to medium enterprise

Financial accounting standards

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain why the number of operating businesses might decrease during a recession. Use evidence from the business cycle's influence on SMEs.

Because more businesses are created during a recession.

Because consumer demand and economic activity typically fall, leading to more business exits.

Because government policies always support business growth in recessions.

Because the entry rate always exceeds the exit rate in a recession.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What percentage of Australian businesses have 4 people or less?

89.2%

50%

75%

60%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which industry has the highest number of businesses in Australia?

Construction

Retail, Hiring and Real Estate Services

Professional, Scientific and Technical Services

Manufacturing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What percentage of businesses have a turnover of less than $200k?

64.3%

10%

25%

50%

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT mentioned as a way SMEs have responded to their environment in Australia?

Increased spending on research and development

New product developments

Improved business practices

Reducing employment opportunities

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