Font size
WorksheetsBusiness 2.1
Total questions: 20
Worksheet time: 20mins
Which of these is the correct definition for business growth
The process of a firm getting smaller
The process of a firm getting bigger
The process of a firm gaining customers
The process of a firm increasing sales price
Which of these aren't external ways of expanding a business
Takeover
Opening new outlets
Merger
Expanding overseas
Which of these are factors that can affect growth
Size of a business
Competitors
Position in the market
Financial position of the business
True or false? 'Involves expansion from within a business, for example by expanding the product range or number of business units and locations' is the definition for internal growth
True
False
Which of these are internal growth strategies
Being merged with another business
Developing new product ranges
Launching existing products directly into new international markets
Opening new business locations
True or false? External growth is when one business joins with another business by a merger or takeover and is achieved through integration
False
True
Which of these is a benefit of a merger
Can include reduce costs and increased revenue
Can provide access to new markets suppliers, technology
Which of these isn't an advantage of a PLC
Can raise large sums of money
Limited liability
Firm is more prestigious
Risk of the company being taken over
Which of these cause changes in business objectives
Internal reasons
Market conditions
Competitors
Technology
Legislation
Which of these are the benefits of Globalisation
Increased markets
Access to cheaper labour and cheaper raw materials
Higher costs
International specialisation
Which of these are drawbacks of Globalisation
International competitors with cheaper costs
Whole industry closures
Effects of events in other countries
Increased level of efficiency
True or False? Imports are goods or services brought into one country from another.
False
True
True or False? Exports arise as a function of international trade, whereby good and services produced by one country and sold to another
False
True
Which of these are barriers to international trade
The Police
Trade Blocs
Tariffs
Quotas
Which are some effects of barriers to trade
They protect jobs
They stop the entry of any harmful or undesirable goods
They increase costs
They increase demand for domestic goods
True or False? Quotas are limits to the volume or value of specific imports allowed into a country in a given time period
True
False
True or False? A tariff is a tax on goods coming into the country from abroad. They are implemented by a government wishing to boost demand for demand from the home country
False
True
True or False? A trading bloc is a group of countries in specific regions that manage and promote trade activities.
True
False
True or False? Ethics is where businesses make decisions based on what morally right rather than what is more profitable
True
False
Which of these are benefits of behaving ethically
Higher costs
Easier to attract and recruit staff
Higher revenues
Improved brand/business awareness and recognition
