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2.2 business studies

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

what are the 4p's

a)

price,product, people, promotion

b)

promotion, packaging, place people

c)

price, product, place, promotion

d)

place, product, penguin, packaging

2.

what must enterprises do?

a)

They must employ people of he community.

b)

Deal with administrative task of a Union.

c)

Look at workers performances.

d)

They should develop detailed descriptions of each job

3.

What is a sole trader?

a)

A person who is the exclusive owner of a business.

b)

Two people who own a business.

c)

A group of people who own a business

4.
An entrepreneur is someone 
a)
Someone who works for a new business
b)
Someone who starts a new business
c)
Someone who takes over an existing business
d)
Someone who does not want to work
5.

Start up costs are...

a)

the amount of money spent setting up a business

b)

money spent on a regular basis to keep a business running

c)

Fixed Costs + Variable Costs

d)

costs which change with output

6.
Which industry sector are raw materials a part of?
a)
The primary sector
b)
The secondary sector
c)
The tertiary sector
7.
What is a car an example of?
a)
A cost
b)
A service
c)
A product
8.
What helps to create brand identity?
a)
Having multiple products
b)
An increase in profits
c)
Creating a logo for the company/product
9.
Which of the following is the best definition of PROFIT?
a)
The total amount of income a business makes from selling products or services
b)
The amount of money a business has left over after paying for their costs.
c)
The total amount of money a business spends.
10.

Which 3 of the following costs would be considered as expenses?

a)

Rent

b)

Utility bills

c)

Materials

d)

Tax

11.
What is the definition of a fixed cost?
a)
A cost that varies with output
b)
A cost that does not vary with output
c)
Costs that do not change
d)
Costs that change only when agreed
12.
What is Primary Research?
a)
Primary Research involves gathering new data that has not been collected before. For example, surveys using questionnaires or interviews with groups of people in a focus group.
b)
Primary Research involves gathering existing data that has already been produced. For example, researching newspapers
c)
Primary Research involves gathering existing data that has already been produced. For example, researching the internet
d)
Primary Research involves gathering existing data that has already been produced. For example, researching company reports.
13.
What is Secondary Research?
a)
involves gathering new data that has not been collected before. For example, surveys using questionnaires or interviews with groups of people in a focus group.
b)
involves gathering existing data that has already been produced. For example, researching the internet, newspapers and company reports.
14.
How can a business reduce the risk of failure?
a)
By selling less products
b)
By keeping the cost of their products low
c)
By carrying out market research
d)
By staying open late.
15.
In order to be successful a business needs to?
a)
Identify its customers needs and wants
b)
Have a big shop
c)
Sell products really cheap
d)
Have lots of sales
16.
What is meant by 'adding value'?
a)
The money a company invests into a new product
b)
the difference between the price of the finished product/service and the cost of the inputs involved in making it.
17.
What are the main categories of market segmentation?
a)
Location, Demographics and Income
b)
Where they go to school
18.
What is Quantitative data?
a)
Data that is normally numerical
b)
Based on opinions, attitudes and beliefs.
19.
what is Qualitative Data
a)
Data that is normally numerical
b)
Based on opinions, attitudes and beliefs.

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