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BTEC - Recap quiz

Total questions: 30

Worksheet time: 15mins

Name
Class
Date
1.

The wants and desires of buyers of a product =???

a)

Market segment

b)

Market research

c)

Customer needs

d)

Product range

2.

Occurs when no business is currently serving the needs of customers for a particular product =???

a)

Crater in the market

b)

Void in the market

c)

Space in the market

d)

Gap in the market

3.

The idea/ impression/ image that customers have in their minds about the brand = ???

a)

Brand image

b)

Brand picture

c)

Brand mirage

d)

Brand point

4.

A person who owns and runs their own business and takes risks = ???

a)

Entrée

b)

Entrepreneur

c)

Enterprise

d)

Ensuite

5.

An advantage a business has that enable it to perform better than its rivals in the market and which is both distinctive and defensible = ???

a)

Consistent advantage

b)

Constant advantage

c)

Complete advantage

d)

Competitive advantage

6.

Right of ownership of an invention or process when it is registered with the government. = ???

a)

Patent

b)

Marketing

c)

Innovation

d)

Risk

7.

Total Revenue = ???

a)

Price per unit / amount of units sold

b)

Price per unit X amount of units sold

c)

Price per unit + amount of units sold

d)

Price per unit - amount of units sold

8.

The number of items or products or services sold by a business over a period of time = ???

a)

Sales volume

b)

Sales price

c)

Gross profit

d)

Cost of sales

9.

All the costs of a business; it is equal to fixed costs plus variable costs = ????

a)

Running costs

b)

Total costs

c)

Direct costs

d)

Overheads

10.

Occurs when the revenues of a business are greater than its costs over a period of time = ???

a)

Raw materials

b)

Loss

c)

Break even

d)

Profit

11.

The cash flowing into a business, its receipts = ???

a)

Margin of safety

b)

Cash outflow

c)

Net cash flow

d)

Cash inflow

12.

When a business can no longer pay its debts = ???

a)

Insolvency

b)

Inbound

c)

Inuit

d)

Intellect

13.

A prediction of how cash will flow through a business in a period of time in future = ???

a)

Break even point

b)

Profit and loss account

c)

Cash flow forecast

d)

Credit note

14.

The amount of money in a business at the end of the month = ???

a)

Shutting balance

b)

Closing balance

c)

Opening balance

d)

Exit balance

15.

Borrowing a sum of money which has to be repaid with interest over a period of time, such as 1-5 years = ???

a)

Share capital

b)

Dividend

c)

Bank grant

d)

Bank loan

16.

The only owner of a business which has unlimited liability = ???

a)

Public limited company

b)

Limited company

c)

Sole trader

d)

Franchise

17.

A tax on the profits of limited companies = ???

a)

Profit tax

b)

Organisation tax

c)

Business tax

d)

Corporation tax

18.

The amount consumers are willing and able to buy at any given price = ???

a)

Demand

b)

Price

c)

Supply

d)

Break even

19.

The percentage reward or payment over a period of time that is given to savers or paid by borrowers on savings or loans = ???

a)

Exchange rate

b)

Interest rate

c)

Net profit

d)

Margin of safety

20.

How a business sells a product for more than it costs through the processes they apply = ???

a)

Adding cash

b)

Adding profit

c)

Adding margins

d)

Adding value

21.

Where total revenue is the same as total costs and no profit or loss is made = ???

a)

Profit

b)

Loss

c)

Break even

d)

Fixed costs

22.

How a product gets from the producer to the consumer = ???

a)

E commerce

b)

Distribution

c)

Transaction

d)

Human Resources

23.

Using the internet to promote and sell a good or service = ???

a)

E Commerce

b)

Social media

c)

Market research

d)

Export

24.

The amount of foreign currency that can be purchased with another currency = ???

a)

Interest rate

b)

Globalisation

c)

Market share

d)

Exchange rate

25.

A way of dividing up the market into different groups of potential customers = ???

a)

Market segments

b)

Market type

c)

Economy

d)

Suppliers

26.

The process which involves taking inputs and transforming them into outputs = ???

a)

Internal finance

b)

Promotion

c)

Production

d)

Trade debtor

27.

Methods of making a consumer aware of a product and persuading them to buy it, includes advertising, sales promotion and public relations = ???

a)

Remuneration

b)

Distribution

c)

Human resources

d)

Promotion

28.

The income from sales; price x quantity sold = ????

a)

Cost of sales

b)

Overheads

c)

Depreciation

d)

Sales revenue

29.

An individual or group that is directly or indirectly affected by the actions of a business = ???

a)

Marketing

b)

Stakeholder

c)

Organisational structure

d)

Shareholder

30.

How the government collects money to fund its expenditure programme and influence the economy = ???

a)

Dividend

b)

Salary

c)

Taxation

d)

Overheads