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BTEC Business Level 2 Intro

Total questions: 8

Worksheet time: 4mins

Name
Class
Date
1.

Define product

a)

To develop over time

b)

mutliply

c)

Intangible service

d)

A commercially distributed good. Tangible good

2.

Define Service

a)

The money made after all costs have been paid for

b)

The way to make a complaint if you are unhappy

c)

A tangible good you can pick up and take away

d)

An intangible service you pay for such as a hair dresser

3.

Define Finance

a)

The money within a business used to purchase materials, machinery, and other costs

b)

The staff within a business

c)

The research and development a business does to make new products

d)

An advertisement

4.

Define Resources

a)

The places you find information

b)

The inputs that are needed to produce goods and service e.g staff, materials, machinery

c)

The way to business success

d)

Different types of sauce that you can put on your chips

5.

Competitors

a)

Using social media to advertise products

b)

A type of loan provided by the government

c)

a rival business whose activities have the potential to reduce another business’s share of the market

d)

Businesses that do not sell the same types of good and services

6.

Define Location

a)

When the business has spent more money that it has earned in revenues

b)

a place or structure occupied by a firm to run its operations

c)

The company website

d)

How goods are delivered to the end customers

7.

Define target audience

a)

Tax paid to the government

b)

The set of accounts produced by a business at the end of a financial year

c)

The way a business reduces costs by making continual improvements

d)

the demographic of consumers who are most likely to buy or be interested in your products or service

8.

Define Entrepreneur

a)

the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits

b)

An employee of a business

c)

The way a business differentiates itself from others

d)

A measure of succcess of a business