wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

A level Business

Total questions: 41

Worksheet time: 22mins

Name
Class
Date
1.

What is an entrepreneur?

a)

Someone who is employed

b)

Someone who doesn't work

c)

Someone who has set up their own business

d)

Someone who works from home

2.

What challenges does an entrepreneur face?

a)

money

b)

responsibility

c)

paperwork

d)

all of the above

3.

What is a problem of being an entrepreneur?

a)

Making all the decisions by yourself

b)

Keeping all the profits

4.
Which one of the following isn't likely to be a common business objective?
a)
To make profit
b)
To provide a service to the community
c)
To pay as much tax as possible
d)
To increase market share
5.
A business might have growth as one of its objectives because
a)
they will be able to benefit from diseconomies of scale
b)
they would be more likely to increase market share
c)
the shareholders always prefer growth to increased profits
d)
all businesses have to grow in order to survive
6.
Most businesses are likely to put survival as their main objective when
a)
the competition is  becoming weaker
b)
the economy is becoming weaker
c)
the government plans to increase grants to firms
d)
consumers are increasing their demand for products
7.
Social enterprises are likely to have which combination of objectives?
a)
Maximum returns for owners and increased market share
b)
Community service, profits and protection of the environment
c)
Survival and an increased share price
d)
Increased profits for owners and protection of the community
8.

A business with one owner is known as a:

a)

Company

b)

Sole trader

c)

Partnership

9.

Advantages of a partnership are:

a)

The partners split the profit

b)

Unlimited liability

c)

Raise more capital than a sole trader

d)

Share the workload

10.

A private held coporation may change into a public corporation because it wants:

a)

Limited liability

b)

To raise additional finance

c)

Unlimited liability

d)

To avoid takeover

11.
What is opportunity cost?
a)
your choice
b)
what you give up to make a choice
12.
A popular bakery has only a few ingredients left to make their products.  They could bake muffins or cookies, but they can’t make both.  The bakers decide to make cookies for their customers.  What is the opportunity cost of their decision?
a)
muffins 
b)
cookies 
13.
The Welch family has saved some money.  They can spend it on a vacation to the Grand Canyon or build a swimming pool in their back yard.  They decide to spend the money on a swimming pool.  What is the opportunity cost of their decision?
a)
vacation 
b)
swimming pool 
14.
Emelia has been invited to a sleep over at Chloe’s house for this Saturday.  Emelia has tickets to see her favorite band in concert that same night.  She decides to give the tickets to her sister and go to Chloe’s house.  What is the opportunity cost of her decision?
a)
seeing her favorite band 
b)
spending time at a friends house 
15.

What is a niche market?

a)

A market in which businesses sell to a large customer group with similar needs.

b)

A market in which businesses sell to a variety of customers.

c)

A market in which businesses sell to a small customer group with specific needs.

d)

A market in which businesses sell one product to many consumers.

16.

Which of the following is not a characteristic of a mass market?

a)

Smaller quantity of products produced

b)

Large customer base

c)

High sales and profits.

d)

Customer needs and wants are less specific.

17.
Which is a franchisor?
a)
Starts a business
b)
Takes over a business
c)
Buys into an existing brand
d)
Allows others to use their brand name
18.

Franchisor and Franchisee are the same company

a)

True

b)

False

19.

Which of the following is not an advantage of the franchisee

a)

Can use an international brand

b)

Start up is fast

c)

Receives advice and training

d)

Can enter new markets

20.

Which of the following is the disadvantage of the franchisor?

a)

May loose local variety and choice

b)

Regular payments to franchisor

c)

looses Independence in running the business

d)

if badly run, the brand will suffer

21.
TRUE or FALSE - The Franchisee can benefit from using the brand name of the Franchise, as well as advertising and marketing
a)
TRUE
b)
FALSE
22.
True or False - There is no set up fee involved in setting up a Franchise
a)
TRUE
b)
FALSE
23.
What would be a better example of a dynamic market
a)
Technology markets
b)
Fizzy drink
24.
What is a dynamic market?
a)
One that only grows
b)
One with slow (or very minor) growth or retraction
c)
One that changes rapidly
d)
One with many businesses
25.

What is the formula for Market share?

a)

Sales of one firm/Total market sales x 100

b)

Number of units sold x price

c)

change in size of market / original size x 100

26.

What is the formula for Market size?

a)

Sales of one firm/Total market sales x 100

b)

Number of units sold x price

c)

change in size of market / original size x 100

27.
What is an example of primary research?
a)
Magazine
b)
Observation
c)
Newspaper
d)
Government statistics
28.
What is an example of secondary research?
a)
Focus Group
b)
Observation
c)
Newspaper
d)
Questionnaire
29.
What is a problem with using secondary data?
a)
It is easy to find
b)
It is normally quicker to find
c)
You did not create it (it might be unreliable)
d)
You have to find the information yourself
30.

True or False: primary research is very generic and not specific.

a)

True

b)

False

31.

Which two of the following statements are disadvantages of primary research?

a)

Many people don't like completing surveys

b)

You can find specific information

c)

Some people just say what they want you to hear

d)

The business has control over the research and results

32.
A common disadvantage of primary research for a startup is that:
a)
It is time-consuming to obtain
b)
It doesn't answer the questions asked
c)
It doesn't allow for qualitative questions
d)
It can't be done online
33.

Data that describes a group of people by age, marital status, gender, etc.

a)

Psychographic data

b)

Demographics

c)

Geographic data

34.

Individuals are companies that marketing efforts are aimed at.

a)

Target market

b)

Customer profile

c)

Demographics

35.

Information collected for the very first time to fit a specific purpose.

a)

Primary data

b)

Secondary data

c)

Quantitative data

36.

Markets can be divided into:

a)

big and small

b)

mass and niche

c)

mass and exclusive

d)

niche and large

37.

When a product is sold to a large number of customers

a)

niche market

b)

small market

c)

mass market

d)

large market

38.

When a business sells specific products to a small number of customers

a)

mass market

b)

small market

c)

niche market

d)

big market

39.

This is an example of

a)

niche market

b)

mass market

40.

This is an example of

a)

niche market

b)

mass market

41.

Which of the following is not a characteristic of a mass market?

a)

Smaller quantity of products produced

b)

Large customer base

c)

High sales and profits.

d)

Customer needs and wants are less specific.

Similar Resources on Wayground

PERNIAGAAN 2

42 questions

PERNIAGAAN 2

quiz

Worksheet

•

1st Grade - University

Midterm Exam_2-031

46 questions

Midterm Exam_2-031

quiz

Worksheet

•

1st Grade - University

Business Studies Summer Assessment 2nd Year

39 questions

Business Studies Summer Assessment 2nd Year

quiz

Worksheet

•

2nd Grade

Islamic finance_Basic principles

37 questions

Islamic finance_Basic principles

quiz

Worksheet

•

1st - 3rd Grade

SUMATIF AKHIR BING KELAS VII

40 questions

SUMATIF AKHIR BING KELAS VII

quiz

Worksheet

•

1st Grade - University

transport morski

40 questions

transport morski

quiz

Worksheet

•

1st Grade - University

UJIAN 1 PERNIAGAAN TINGKATAN 4

40 questions

UJIAN 1 PERNIAGAAN TINGKATAN 4

quiz

Worksheet

•

1st Grade - University