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WorksheetsBTEC - Recap quiz
Total questions: 30
Worksheet time: 15mins
The wants and desires of buyers of a product =???
Market segment
Market research
Customer needs
Product range
Occurs when no business is currently serving the needs of customers for a particular product =???
Crater in the market
Void in the market
Space in the market
Gap in the market
The idea/ impression/ image that customers have in their minds about the brand = ???
Brand image
Brand picture
Brand mirage
Brand point
A person who owns and runs their own business and takes risks = ???
Entrée
Entrepreneur
Enterprise
Ensuite
An advantage a business has that enable it to perform better than its rivals in the market and which is both distinctive and defensible = ???
Consistent advantage
Constant advantage
Complete advantage
Competitive advantage
Right of ownership of an invention or process when it is registered with the government. = ???
Patent
Marketing
Innovation
Risk
Total Revenue = ???
Price per unit / amount of units sold
Price per unit X amount of units sold
Price per unit + amount of units sold
Price per unit - amount of units sold
The number of items or products or services sold by a business over a period of time = ???
Sales volume
Sales price
Gross profit
Cost of sales
All the costs of a business; it is equal to fixed costs plus variable costs = ????
Running costs
Total costs
Direct costs
Overheads
Occurs when the revenues of a business are greater than its costs over a period of time = ???
Raw materials
Loss
Break even
Profit
The cash flowing into a business, its receipts = ???
Margin of safety
Cash outflow
Net cash flow
Cash inflow
When a business can no longer pay its debts = ???
Insolvency
Inbound
Inuit
Intellect
A prediction of how cash will flow through a business in a period of time in future = ???
Break even point
Profit and loss account
Cash flow forecast
Credit note
The amount of money in a business at the end of the month = ???
Shutting balance
Closing balance
Opening balance
Exit balance
Borrowing a sum of money which has to be repaid with interest over a period of time, such as 1-5 years = ???
Share capital
Dividend
Bank grant
Bank loan
The only owner of a business which has unlimited liability = ???
Public limited company
Limited company
Sole trader
Franchise
A tax on the profits of limited companies = ???
Profit tax
Organisation tax
Business tax
Corporation tax
The amount consumers are willing and able to buy at any given price = ???
Demand
Price
Supply
Break even
The percentage reward or payment over a period of time that is given to savers or paid by borrowers on savings or loans = ???
Exchange rate
Interest rate
Net profit
Margin of safety
How a business sells a product for more than it costs through the processes they apply = ???
Adding cash
Adding profit
Adding margins
Adding value
Where total revenue is the same as total costs and no profit or loss is made = ???
Profit
Loss
Break even
Fixed costs
How a product gets from the producer to the consumer = ???
E commerce
Distribution
Transaction
Human Resources
Using the internet to promote and sell a good or service = ???
E Commerce
Social media
Market research
Export
The amount of foreign currency that can be purchased with another currency = ???
Interest rate
Globalisation
Market share
Exchange rate
A way of dividing up the market into different groups of potential customers = ???
Market segments
Market type
Economy
Suppliers
The process which involves taking inputs and transforming them into outputs = ???
Internal finance
Promotion
Production
Trade debtor
Methods of making a consumer aware of a product and persuading them to buy it, includes advertising, sales promotion and public relations = ???
Remuneration
Distribution
Human resources
Promotion
The income from sales; price x quantity sold = ????
Cost of sales
Overheads
Depreciation
Sales revenue
An individual or group that is directly or indirectly affected by the actions of a business = ???
Marketing
Stakeholder
Organisational structure
Shareholder
How the government collects money to fund its expenditure programme and influence the economy = ???
Dividend
Salary
Taxation
Overheads
