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Worksheetsbusiness studies topic 1
Total questions: 21
Worksheet time: 44mins
what is a good?
something a customer likes
a tangible object a customer can purchase
a non tangible object a customer can purchase
what is a service?
a non tangible item that a business provides
tangible item provided by a business
what does a dentist provide?
good
service
both
What is meant by the aim - 'survival'?
Share of the total market for a product or service and is shown as a percentage.
Where a business makes sure the needs of the customer are being met.
When a business just manages to keep going. This is typical for new businesses or in a recession.
what does the primary sector involve?
extraction of raw materials
selling the products to the retailer in order to be sold to the customer
manufacturing of raw materials into tangible products for the customer
what does the secondary sector involve?
selling the final product to customers
manufacturing raw materials into tangible products for the customer
extraction of raw materials
what does the tertiary sector involve?
manufacturing raw materials into products
extraction of raw materials
selling the final product to the customer
which of these is a local business
the cooperative
mr.k's
lush
mcdonalds
what should be included in the marketing section of the plan?
target market
human resources
marketing mix
competition
who's name should be included in the business plan?
employees
managers
owners
Total revenue -total cost=
average cost
Profit
Marginal cost
Total cost is a sum of Fixed cost and
fixed revenue
variable cost
average cost
Cost of raw materials is an e.g of
fixed cost
variable cost
none
Which of these is not a reason for a business locating near its market?
It produces a large finished good
Uses bulky raw materials to produce a small finished good
Customers are not likely to travel far for their product
it sells fresh products
Which of the following would be the least important when locating a new hair salon?
Competition
Customers
Staff
Suppliers
