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4.1 Business Influences on Consumer Decisions

Total questions: 25

Worksheet time: 13mins

Name
Class
Date
1.

Which of the following functional areas is most likely to use twitter to increase customer engagement?

a)

Business Operations

b)

Marketing

c)

Finance

d)

Human Resources

2.

A business reduces the level of chemical emissions from its factory. Which of the following is the business aiming to reduce?

a)

Noise pollution

b)

Traffic congestion

c)

Recycling

d)

Air pollution

3.

Which of the following is a feature of a weak economic climate?

a)

High levels of consumer spending

b)

Low levels of consumer spending

c)

High levels of employment

d)

Low levels of unemployment

4.

Which of the following is a possible impact facing a hotel chain if facilities and accommodation are falsely described?

a)

Sales may increase

b)

Customer numbers may increase

c)

Profits may increase

d)

Reputation may decrease

5.

Which of following is most likely to occur as interest rates fall?

a)

Sales of luxury products increase

b)

Sales of essential products increase

c)

Sales of luxury products decrease

d)

Sales of essential products decrease

6.

A business that uses renewable energy, such as solar and wind power, aims to reduce:

a)

Recycling

b)

Global warming

c)

Traffic congestion

d)

Waste disposal

7.

Rising prices for goods and services and lower buying power of the dollar?

a)

Consumer Spending

b)

Inflation

c)

Consumer Prices

d)

Interest Rate

8.

The demand for goods and services, which affects prices and job opportunities?

a)

Interest Rate

b)

Unemployment Rate

c)

Consumer Spending

d)

Inflation

9.

The cost of borrowing money. Lower interest rates encourage consumer spending; higher rates encourage saving and less borrowing?

a)

Interest Rate

b)

Consumer Prices

c)

Unemployment Rate

d)

Inflation

10.

People paying money for goods and services is called:

a)

Unemployment Rate

b)

Consumer Spending

11.

When prices go up:

a)

Inflation

b)

Income Risk

12.

The number of people out of work is called:

a)

Inflation

b)

Unemployment Rate

13.

The amount you pay to borrow money is called:

a)

Consumer Spending

b)

Interest Rate

14.
Most people make their buying decisions after careful thought.
a)
True
b)
False
15.
Higher-priced brand name products are better quality than lower-priced off-brand products.
a)
True
b)
False
16.
Only a small part of a typical company's spending if budgeted for marketing.
a)
True
b)
False
17.
Shopping around to compare features and prices can help save money.
a)
True
b)
False
18.
Not having enough resources to satisfy every need is
a)
supply side economics
b)
demand curve
c)
scarcity
d)
opportunity cost
19.
Who determines the price in a market economy?
a)
seller only
b)
buyer only
c)
buyer & seller
d)
past price history & competition
20.
If demand for a product is low the price will
a)
rise
b)
drop
c)
remain the same
d)
vary day -to-day
21.
risk taker who uses resources to create a new product or service
a)
consumer
b)
regulator
c)
entrepreneur
d)
manager
22.
Someone that takes risks and opens his or her own business.
a)
Buyer
b)
Capital Good
c)
Consumer
d)
Entrepreneur
23.
Why do most economies today operate somewhere between a market economy and a command economy?
a)
Government control makes a market economy more profitable.
b)
Most consumers prefer government control to a free market system.
c)
Government control of some aspects of the economy has never been successful in the modern world.
d)
Most economies have found they need a mix of free markets and some government control to be successful.
24.

A measure of efficiency, measured as output per person in a particular time period

a)

Productivity

b)

Automation

c)

Product quality

d)

Competitive advantage

25.

What does automation mean?

a)

Using machines that can operate without people

b)

The development of production into batch production

c)

Handcrafted production

d)

Leading to a fall in quality