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WorksheetsN5 Business Revision
Total questions: 30
Worksheet time: 26mins
Which of these are not a sector of Economy?
Private
Public
Third
Secondary
This sector of Economy includes charities and voluntary organisations
(a)
Which is not a benefit of customer satisfaction?
Happy, loyal customers
Increased Profit
Customers choosing competitors
Recommendations
Identify 2 ways an organisation can measure customer satisfaction
Identify two objectives of a Third sector organisation
Which type of question is this an answer to:
An advantage of a Sole Trader is that all profits can be kept for themselves. A disadvantage of a sole trader is that they have unlimited liability so could lose everything if the business fails.
(a)
What is the abbreviation for External Factors?
(a)
Which External Factor would the Equality Act 2010 relate to?
Political
Economical
Environmental
Competitive
Which of the following is an Advantage of being a Sole Trader
Complete control of the business
All profits are kept by the owner
Company accounts are kept private
All of the above
Which of the following is a factor that a business would have to consider when choosing a supplier?
Distance from Warehouse
Quality of Raw Materials
Reputation of Suppliers
All of the above
Which type of question would this be:
Overstocking means money is tied up in stock which means that it cannot be used elsewhere in the business.
(a)
Which type of question would this be the answer to:
Job Production is when one product is made at a time whereas Flow production is when multiple products are made at a time.
(a)
How can businesses operate in a more environmentally way?
There is more than one correct answer.
Recycling
Reducing Packaging
Reducing Energy
Reducing Employees
Which type of question would this be an answer for?
Quality control is often seen as high wastage whilst quality assurance is seen to decrease wastage
(a)
When products are checked at each stage of production?
Quality Control
Quality Circles
Quality Assurance
The Marketing Mix can also be called____.
4 P's
4 C's
2 M's
What is not part of the marketing mix ?
Place
Product
Price
Person
Give two reasons why a company would use Marketing?
How many stages are in the product lifecycle?
(a)
Give three stages of product development
Which of these would be the first stage of Product Development?
Prototype is created
Price is decided
Market Research
Changes are made
Give 3 methods of market research an organisation could use to measure customer satisfaction.
Packaging protects the product.
True
False
Which of the following statement is true?
packaging is also used for promotion purpose
packaging is only used for promotion purpose
packaging is not at all used for promotion purpose
none of these
Identify 3 pricing strategies
Which are factors that a bsuiness must consider when settinng their prices?
Quality of the product or service
Competitors prices
Profit Level
Date the product is made
Which is not an advantage of e-commerce?
No checkout lines to wait in
Access to shops globally
Access to shopping 24 hours a day
Able to examine products personally
A disadvantage of e-commerce is
Consumers have 24-hour access to stores
There is more variety of goods available
Stores do not have to pay rent for a physical space
Security issues and the risk of identity theft of consumers
