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WorksheetsBusiness 1.1+1.2
Total questions: 17
Worksheet time: 9mins
What are the two methods of creating new ideas
Original ideas
Adapting products
Copying a competitor
Intuition
Define dividend
A monetary return on shares
divide the end
splitting the market into groups
Merging two businesses
Pick the two correct stages of the product life cycle
Introduction
Maturity
Reducing sales
Increasing sales
How do you calculate revenue?
quantity x sales price
quantity x variable cost
quantity + sales price
quantity x fixed cost
How do you calculate total variable costs?
quantity x variable cost per unit
quantity x fixed costs
sales price x variable cost per unit
fixed costs x variable cost per unit
how do you calcualte total costs?
revenue x sales price
total variable costs + fixed costs
fixed costs x variable costs
profit + variable costs
Pick the risks for an entrepreneur
lack of job security
business failure
profit
financial loss
Which of the following is an example of a variable cost?
Rent
Raw materials
Insurance
Advertising
Which of the following describes the role of an entrepreneur?
Being employed by a large organisation
A willingness to take risks
Having sufficient money to start a new business
Being able to work alone
Which two of the following are examples of primary market research?
Internet research
Market reports
Customer surveys
Government statistics
Focus group
Which of the following describes margin of safety?
e difference between actual and break even levels of output
Where total revenue and total costs are equal
The number of sales required to break even
Profit made above the break even level of output
Which of the following is an example of secondary research?
Customer survey
Focus group
Market report
Observation
Which two of the following are methods of adding value?
Satisfying shareholders
Unique selling point
Suppliers paid on time
Branding
Pressure groups
Which two of the following are aspects of SWOT analysis?
Strengths
Wants
Targets
Opportunities
Openings
Which two of the following are examples of fixed costs?
Rent
Salaries
Commission
Bonuses
Raw materials
Which two of the following are examples of stakeholders for a sole trader?
Shareholders
Government
Humanitarian aid
Pressure groups
Parents
Which of the following is an indirect competitor of Pizza Hut?
Pizza Express
Dominos
Papa Johns
Subway
