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Worksheets1.4 Business
Total questions: 12
Worksheet time: 12mins
Which of these ISN'T an advantage of a sole trader
Easy to setup as no special paperwork is required
Spreads responsibilities and decisions
Speedy can be made as few people are involved
Profits do not have to be shared
Which type of business is PLC the abbreviation of
Partnership
Private Limited Company
Franchise
Sole trader
Which of these is the correct definition of a franchise
A business that agrees to manufacture, distribute or provide a branded product, under licence by a franchisor
The right given by one business to another to sell goods or services using its name
A distinguishing name given to a product to make it easily recognaisable
The fee paid to the franchisor, usually as a percentage of sales for the right to trade under their name
Which of these are advantages of a franchisee
Product is advertised nationally
Can expand business without large amounts of capital
Greater chance of success for a tried and tested product
Can decide upon the legal structure of the business
Which of these ISN'T a factor that influences location decision
Age
Nature of business activity
Proximity to the market
Labour
Which of these is the correct definition of the marketing mix
How a business combines its product and its price, and uses promotion and the place of sale in order to be successful
How a business combines its promotion and its place of sale, and uses product and price to be successful
True or False? M-Commerce is using wireless, handheld (mobile) devices, such as smart phones
True
False
Which of these are information included on a business plan
Location
A photo of the business owner
The name of the business
Suppliers
Which of these is the correct definition for price
The methods a business uses to raise awareness of its products, in an attempt to persuade customers to make a purchase
The amount a business decides to charge for its products
The different channels of distribution customers/consumers can use to access and buy the product
The actual good or service which the business decides to sell
Which of these is the correct definition of place
The methods a business uses to raise awareness of its products, in an attempt to persuade customers to make a purchase
The actual good or service which the business decides to sell
The different channels of distribution customers/consumers can use to access and buy the product
The amount a business decides to charge for its products
Which of these is the correct definition for promotion
The actual good or service which the business decides to sell
The methods a business uses to raise awareness of its products, in an attempt to persuade customers to make a purchase
The amount a business decides to charge for its products
The different channels of distribution customers/consumers can use to access and buy the product
Which of these is the correct definition of product
The methods a business use to raise awareness of its products, in an attempt to persuade customers to make a purchase
The amount a business decides to charge for its products
The different channels of distribution customers/consumers can use to access and buy the product
The actual good or service which the business decides to sell
