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WorksheetsSQA EXAM REVISION 2022
Total questions: 25
Worksheet time: 13mins
A sole trader operates in the...
Public sector
Private sector
Third sector
The private sector is funded by tax
True
False
Unlimited liability affects what two types of businesses?
Sole traders
Partnerships
Private limited companies
Public limited companies
A private limited company is run by what...
A board of directors
Shareholders
The owner
The employees
What does a private limited company aim to do?
Maximise profits
To promote awareness of “good causes”
• Sole trader business have (a) - if the business cannot pay its debts, the creditors can force the sole trader to sell the private possessions and pay them back.
What does “external factors” mean?
Factors that are controlled inside the business
Factors that are not controlled inside the business
Outside factors that can not be controlled by the business
Unemployment rates, inflation rates, interest rates are some examples of what factor:
Political
Social
Legal
Economic
An external factor that refers to how innovation and development are evolving and the impact that has on the industry.
Social
Legal
Environmental
Technological
Why do businesses use market research?
To identify customer needs
To sell goods and services
To advertise
What does desk research involve?
Gathering new data
Gathering existing data
Conducting surveys
Which of the following is an example of primary research?
Internet research
A focus group
Company reports
Select the 2 advantages of branding
A business can save money on marketing once the product becomes a household name.
It means businesses don't have to make new items.
The business can change its name if it wants to.
Higher prices can be charged when consumers become loyal to the brand.
Brands tend to charge customers
more for their products
less for their products
2 disadvantages of branding are..
The business gains a huge following of loyal customers.
The business' products can be easily copied and sold for a much cheaper price.
A poor brand can affect the whole range of products produced by the manufacturer.
The company cannot release new collections.
Making a large quantity of identical products
Job
Batch
Flow
Making individual products that are bespoke (fit each customer's needs)
Job
Batch
Flow
Workers will get bored
Job
Batch
Flow
Time is wasted cleaning the machinery between switching to a different flavour/make/ model
Job
Batch
Flow
Workers are highly skilled and command high wages
Job
Batch
Flow
Process that will help me choose the best candidate for a job
Job Description
Job Posting
Recruiting
Interview
