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WorksheetsBusiness Studies Year 10 Assessment PREP
Total questions: 35
Worksheet time: 3hrs 55mins
When a business launches an updated product with new features, it is best described as adding value through:
Convenience
Branding
Quality
Design
Which of the following statements best describes the term, unique selling point? When a business:
Establishes a clear target market for its products
Develops an aspect of a product that makes it different to its rivals
Carries out market research effectively
Produces a range of goods and services
The main purpose of which of the following businesses is to provide a service to customers?
An independent bakery
A dog grooming parlour
A farm
A specialist skateboard producer
Which of the following statements best describes the term, entrepreneur?
Someone who buys a product from a business
Someone who uses goods and services produced by a business
Someone who works for a business
Someone who is willing to take the risk involved in starting a business
In order to add value, local grocery stores often sell cheese that has already been grated for the customer. This adds value through:
Convenience
Branding
Quality
Customer service
One role of an entrepreneur is to organise resources. Which of the following statements best describes this role?
The ability to take calculated risks
The skill to think creatively
Employing workers and buying equipment in order to produce goods
The prospect of keeping all profits that are generated
Which of the following statements best describes the term, added value?
When a product stands out from those of its competitors
Making a product widely recognisable
The difference between the cost of a product and its selling price
Making a product convenient to use
Which of the following skills best describes an entrepreneur that has successfully created and launched a unique business idea onto the market?
Team player
Communicative
Organised
Innovative
In order to make its products stand out from those of its competitors, a small chocolate manufacturer produces organic, gluten free, chocolate bars. This is classed as adding value through:
Customer service
A unique selling point
Branding
Convenience
Which of the following best describes how value can be added to a product through branding?
When a product is made to high standards demanded by customers
When a product saves the customer time
When a business is recognisable by its name and message
When a business launches an updated product with new features
Which two of the following are potential risks of being an entrepreneur?
Select two answers:
Ability to pursue an interest
Flexible working hours
Possible financial loss
Lack of financial security
Independence
Which two of the following businesses produce goods for customers to buy?
Select two answers:
A local veterinary practice
A small producer of specialist mountain bikes
A local hairdressing salon
An independent travel agent
A local ice cream manufacturer
A budding entrepreneur who is looking to set up a new enterprise is concerned that the business might not provide enough of a stable income to maintain his current standard of living. Which of the following best describes this risk?
Inability to break even
Lack of security
Business failure
Lack of independence
Increased concern from consumers over the environment has led to new business start-ups developing products from recycled materials. These business ideas have come about due to:
Services that have become obsolete
Products that have become obsolete
Changes in consumer demand
Changes in the interest rate
What is the first stage of the product life cycle?
Maturity
Decline
Launch
Introduction
An entrepreneur has developed a unique product to launch into the market. Which of the following best describes how this new business idea came about?
An original idea
Adapting an existing product
Adapting an existing service
Adapting an existing idea
Which of the following best describes the term, obsolete? When consumers:
Demand more of a particular product or service
Want, and can afford, to buy more products and services
Can no longer afford to buy a particular product or service
No longer want to buy a particular product or service
Lack of overall planning and poor decision-making can lead to business failure. This is known as:
Poor management
Poor quality
Poor understanding of the economy
Poor sales levels
An entrepreneur has produced a shaving oil for customers with sensitive skin to eliminate any pain when shaving. This is an example of a business idea that:
Was developed and delivered to the market quickly
Solved a customer problem
Offered a cheaper way of doing something
Is aimed at a fast growing market
When a product or service is obsolete sales will begin to drop, this is known as the _____________ stage of the product life cycle:
Introduction
Maturity
Growth
Decline
Which two of the following increases the risk of business failure?
Select two answers:
Draws up a detailed business plan
Produces goods that do not meet customer needs
Makes a product that stands out from its competitors
Fails to carry out comprehensive market research
Offers exceptional customer service
Which of the following statements are reasons why it is important for a business to identify and understand customer needs? The business is:
More likely to generate sales and less likely to survive
More likely to generate sales and more likely to survive
Less likely to generate sales and less likely to survive
Less likely to generate sales and more likely to survive
Which of the following is a benefit to a business of segmenting a market?
Increased risk of making inaccurate business decisions
Market segments are always very easy to reach
High sales levels are guaranteed
The business is more likely to generate sales from its products
Which of the following is a type of segmentation based on how much a customer earns?
Lifestyle
Age
Location
Income
The method used to identify where a product is positioned in the market in terms of certain criteria, such as high priced/low priced, is best known as:
Market segmentation
Market share
Market mapping
Marketing mix
A business manufactures and sells vegetarian ready meals. Which type of market segmentation would the business most likely use?
Location
Lifestyle
Gender
Age
The target market of a Caribbean cruise ship holiday is couples aged 65 years and over with a keen interest in travel. This is an example of segmentation according to:
Income and gender
Age and location
Lifestyle and age
Gender and location
Segmenting the market can help a business because:
Prices are more likely to be set that customers are prepared to pay
Products developed will always successfully sell on the market
The distribution channel chosen will always ensure high sales
Promotion methods chosen will be guaranteed to reach the customer
Discount supermarkets, such as Aldi and Lidl, are most likely to segment the market according to:
Gender
Age
income
Lifestyle
CBeebies, a BBC television network aimed at children under 6 years old, is aimed at a segment based upon:
Gender
Location
Age
Income
Lifestyle changes in today’s society has meant that many people no longer have the time to cook and prepare meals from scratch. As a result, the ready meal market has grown significantly over recent years. Which customer need is the ready meal market primarily meeting?
Price
Quality
Choice
Convenience
Which of the following is a benefit to a start-up business of identifying and understanding customer needs?
Increased possibility of survival
Lower chance of breaking even
Customer demand for its products will be minimal
Increased risk of making costly mistakes
An independent coffee shop offers customers a wide selection of coffee types. Which of the following customer needs is being met:
Convenience
Choice
Quality
Price
What is the third stage of the product life cycle?
Maturity
Majority
Launch
Introduction
A business wants to extend the life of their product, what is this called
Brand extension
Branding
Product Extension
Product maturity
