Font size
WorksheetsSGS Y10 Summary Test
Total questions: 30
Worksheet time: 16mins
A second hand car dealership offers all customers a one-year warranty on vehicles
purchased. This is an example of the business competing on:
Location
Price
Quality
Customer Service
Which of the following stakeholders are classed as the owners of a private limited
company?
Stakeholders
Managers
Employees
Shareholders
Last year, a local building firm, donated £1,000 to a community project. This is an example
of:
A sales objective
A social objective
A market share objective
A profit objective
Which of the following is a possible benefit to businesses of providing a safe working
environment?
Productivity decreases
Costs increase
Efficiency decreases
Motivation increases
An extract from a firm’s cash flow forecast for April is shown in the table above.
Based on this information, its closing balance for April is:
£47,726
£52,497
£57,268
£102,774
Which of the following best describes the aim of employment law? To allow employers to
use labour efficiently while preventing unfair treatment of:
Customers
Employees
Suppliers
Workers
The development of music streaming businesses, such as Spotify, have come about due to
changes in:
Legislation
Economic climate
Technology
The Government
Which of the following allows business owners to identify gaps in a market in relation to
rival businesses?
Market mapping
Market segmentation
Market Share
Marketing mix
Which of the following businesses is most likely to be concerned with being close to
competitors rather than customers?
Newsagent
Dog grooming parlour
Estate agent
Butcher
Which of the following is the most likely impact of sharply rising employment levels on a
business selling value, unbranded goods?
Falling sales and rising profit
Rising sales and falling profit
Falling sales and falling profit
Rising sales and rising profit
The decision to not pay out a yearly dividend is most likely to be opposed by:
Employees
Shareholders
Suppliers
Customers
Which two of the following would be true if a business experiences a rent increase?
Select two options:
The business would need to sell more units to break even
The break even point would rise
The break even point would fall
The break even point would stay the same
Which two of the following are examples of fixed costs for a coffee shop?
Select two options:
Coffee ingredients
Rent for the shop
Serviettes
Insurance for the shop
Milk
Which of the following is a disadvantage of organic growth?
Unit costs can be reduced as the business grows
Growth may be slow
Can often be financed through internal funds
It is often hard to control and manage compared to external growth
Which of the following products is likely to be made using job production?
Heinz baked beans
Cadburys Dairy Milk
Land Rover car
Made to measure wedding dress
The market share of 4 different businesses in a small, local market is shown in the pie chart above.
If the market size by value is £120,000, what is the value of sales in £’s made by Business B?
£14,400
£24,000
£36,000
£45,600
Which of the following is an example of an internal source of finance?
Loan capital
Selling assets
Share capital
Stock market flotation
Which two of the following are limitations to a business of using job production?
Employee demotivation due to the boring nature of work
High cost of purchasing the production line machinery
Difficult to change the production line
Unit costs are likely to be high
Difficult for the business to grow due to shortages of specialist skills
A successful public limited company is looking to expand into new markets whilst minimising the risk of takeover. The business wants to use internal sources to raise funds. Which two of the following sources of finance would be the most suitable to fund this expansion?
Share capital
Selling unwanted assets
Retained profit
Stock market flotation
Loan capital
Which of the following is a positive impact on a business of efficient logistics and supply
decisions?
Customer satisfaction can increase
Costs will rise
Reduction in reliability
Reputation will fall
At which of the following stages in a product’s life are product sales always zero?
Research and development
Introduction
Maturity
Decline
Which of the following production methods is a new hairdressing business likely to use?
Batch production
Job production
Flow production
Mass production
Which of the following is a disadvantage to a business of selling assets to raise business finance?
A business plan will need to be produced
The amount generated is usually lower than the amount originally paid for the asset
Interest will be payable on the amount raised
The business will need to replace the asset sold as soon as possible
Which of the following is the correct formula for calculating revenue?
Quantity/price
Quantity + price
Price - quantity
Price x quantity
Which of the following is true for a UK business operating in a global market?
Less expensive to transport goods to the end consumer
Good publicity if UK production jobs are lost to other countries
Cost reductions could lead to lower profits
Access to a larger market
Which of the following departments has the role of coordinating people and resources to ensure everything is in the right place at the right time?
Logistics
Procurement
Customer services
Production
Which of the following is a drawback to a business of accepting greater environmental responsibility?
Reputation may be damaged
Loss of customers if price has to be increased
Savings can be made through recycling
Increased profit if customers pay a higher price
An independent ice cream producer sells its products directly to large supermarkets, such as Tesco. The supermarkets then sell the ice cream to customers through a network of physical stores. Which of the following methods of distribution is being used to deliver the
product to the customer?
E-commerce
E-tailer
Retailer
M-commerce
Which two of the following businesses are most likely to set low prices, sell high volumes and
experience low profit margins?
John Lewis
Harvey Nicholls
Primark
Selfridges
Jack’s
Which two of the following might a supermarket use to measure the quality standards provided at its checkouts?
How long it takes an employee to scan each item
Whether customers pack their own shopping
The payment method used by the customer
If a customer brings their own shopping bags
The number of customers served per hour
