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WorksheetsGCSE Business Theme 2 revision
Total questions: 63
Worksheet time: 32mins
Which of the following best describes the term globalisation?
Goods purchased from overseas by UK businesses and consumers
The process by which the world is increasingly becoming one market
When a business produces goods in more than one country
When goods and services are made in one country and sold in another
ASEAN (Association of South East Asian Nations) is an example of which of the following?
Tariff
Import
Trade bloc
Export
Imports are a feature of global markets. Which of the following is an example of a UK import?
A lamp made in China is sold to UK customers
A vase made in Spain is sold to customers in Spain
A table made in the UK is sold to customers in Germany
A kettle made in the UK is sold to UK customers
Exchange rates are important to businesses that trade globally. Which of the following is true if a country’s currency becomes stronger?
Bad for business that exports as goods are more expensive overseas
Bad for consumers as prices of imports will increase
Bad for business that exports as goods are less expensive overseas
Bad for business that imports raw materials as prices will increase
A UK business extends its delivery service to include overseas markets. This is an example of changing which element of the marketing mix to compete internationally?
Product
Price
Promotion
Place
A UK business might relocate operations abroad in order to:
Benefit from higher labour costs
Avoid import tariffs
Build a factory on more expensive land
Avoid bad publicity created through the closure of UK factories
Which of the following is a benefit to UK businesses of globalisation?
Being vulnerable to the world economic climate
Increased competition can lead to business failure
Access to new and bigger markets
Multinational firms are increasingly powerful
Which of the following best describes the term imports?
Which of the following best describes the term imports?
Goods produced by UK businesses and purchased by other UK businesses
Goods purchased from overseas by UK businesses and consumers
Goods produced by a business in one country and sold in another
Goods purchased by UK businesses from other UK producers
Which of the following best describes the term multinationals?
Goods made in one country and then sold to a different country
Businesses that have operations in more than one country
Goods or services that are bought from overseas
Businesses that only have operations in one country
A multinational business reduces the amount charged for products sold in a country with lower than average income levels. Which element of the marketing mix has been changed to help the business compete internationally?
Product
Price
Promotion
Place
Which of the following is true in relation to tariffs?
Buyers might be encouraged to purchase home produced goods instead of imports if a tariff is imposed on imported goods
Tariffs restrict the number of imports a country can receive in a particular time period
Tariffs discourage trade between countries that are members of a trade bloc
When a tariff is imposed on imported goods they will become cheaper in that market
Which two of the following are drawbacks to independent UK businesses of globalisation?
Increased competition from overseas businesses
Costs can be reduced through the use of cheaper labour
Global brands can dominate markets
Opportunity to increase sales
Access to cheaper raw materials
Which two of the following businesses are acting as exporters?
A UK retailer buys goods from overseas suppliers to sell in the UK
A UK supermarket buys milk from UK farmers to sell in its UK stores
A UK based car manufacturer sell cars to the Japanese market
A UK confectionery business buys cocoa from abroad to produce chocolate bars in the UK
A UK mountain bike producer sells its products to the USA
Which of the following is not part of the design mix?
Price
Aesthetics
Economic Manufacture
Function
A designer pair of jeans is most likely to focus on
function
aesthetics
economic manufacture
Which part of the product life cycle is when sales are high but not increasing
Introduction
Growth
Maturity
Decline
Kellogg's making well-known cereals into cereal bars is an example of
an extension strategy
an expansion strategy
a development strategy
A mass market product such as Walkers Crisps will use which pricing strategy?
High margin, low volume
High volume, low margin
High volume, high margin
Low margin, low volume
A business selling new flavours of soft drinks is likely to do what to their pricing at the introduction phase of the life cycle?
Raise prices
Cut prices
Keep prices the same
A business selling a new treatment for cancer is likely to do what to their prices when they first launch?
Cut prices
Raise prices
Nothing
Giving your product a distinctive identity is known as..
marketing
selling
branding
A video made by a business to be passed around friends via social media is known as
sponsorship
social marketing
viral marketing
Businesses may prefer to use e-newsletters as a way of marketing because
The customer will have already used the business before
Its low cost
It will attract new customers
Its exciting
The way in which a product gets from a business to consumer is known as
A distribution channel
A TV channel
A promotional channel
A business that buys in bulk and sells on to other businesses is known as...
A retailer
An e-tailer
A wholesaler
Taxes charged only on imported goods
Income tax
Indirect taxation
Excise duties
Tariffs
Goods and services bought from overseas
Imports
Exports
Subsidies
Expenditure
A group of countries that have agreed to have free trade
Trade blocs
United Nations
Exchange Rates
Protectionism
The increasing tendency for countries to trade with each other and to buy global goods
Trading blocs
Protectionism
Globalisation
Tariffs
Finding a way to succeed against rivals from overseas
Protectionism
Competing Internationally
Imports
Consumer expenditure
Free Trade
Trade between countries with no barriers, e.g. no tariffs
Trading products without making a charge for them
Protectionism
Trading with only limited amounts of regulation
Products made in this country but sold overseas
Exports
Imports
Exchange Rates
Price
The price of one currency measured in terms of another currency
Import control
Exchange rate
Interest rates
Imports
What is Fairtrade all about?
better prices and better working conditions
more trade for less money
less money for workers
less crops
Who does Fairtrade really support?
The richest earners
The poorest earners
The crops
The countries wanting the crops
Which option is an example of a business behaving ethically?
Paying employees above the living wage
Buying non fair trade products rather than the fair trade alternative
Paying suppliers the lowest possible price for raw materials
Setting high retail prices as the only producer of an essential product
Which statement best describes the term ethical behaviour? When a business behaves in a way that:
Is classed as morally wrong
Minimises costs
All stakeholders consider fair and honest
Maximises profits
Which of the following behaviours by a car manufacturer could be classed as unethical?
Producing vehicles with high fuel consumption
Researching alternative, environmentally friendly, fuel types
Producing energy efficient hybrid cars
Researching new, advanced, vehicle safety features
Businesses often face a trade-off between ethics and profit. Which is an example of a business prioritising ethics over profit?
Paying the lowest possible price for raw materials to increase profits
Paying a higher price for fair trade supplies at the expense of profit
Paying suppliers late to improve cash flow
Paying employees the lowest wage possible to increase profits
Which two of the following are possible drawbacks to a business of behaving ethically?
Positive advertising
Higher costs
Motivated workforce
Easier to recruit new employees
May have to accept lower profits
Which option best describes the term globalisation?
Goods purchased from overseas by UK businesses and consumers
The process by which the world is increasingly becoming one market
When a business produces goods in more than one country
When goods and services are made in one country and sold in another
Which is a benefit to UK businesses of globalisation?
Being vulnerable to the world economic climate
Increased competition can lead to business failure
Access to new and bigger markets
Multinational firms are increasingly powerful
Which of the following methods would an environmentally responsible business use to manage waste?
Send all waste to landfill
Reduce the amount of waste created and recycle where possible
Incinerate waste
Use non-recyclable packaging
Airlines, such as Ryanair, have invested in new aircraft in order to cut emissions per passenger. Which of the following does the airline aim to reduce?
Recycling
Traffic congestion
Global warming
Renewable resources
Which of the following explains why major supermarkets have ended the sale of plastic cotton buds in favour of a paper alternative?
To increase air pollution
To reduce recycling
To increase traffic congestion
To reduce plastic waste
A business decides to install solar panels in order to increase its use of:
Renewable resources
Waste products
Non-renewable energy sources
Scarce resources
Which of the following is a benefit to a business of behaving in an environmentally responsible way?
Consumers may be prepared to pay higher prices for products
Profits may be reduced
Higher prices may make the business uncompetitive
Costs will increase
An aim is
A short term target
A long term goal
Which of the following is not an example of a financial aim?
To increase sales
To increase profits
To be more ethical
To cut costs
Objectives should be SMART. What does this stand for?
Specific, Measurable, Actual, Revenue, Timed
Specific, Measurable, Achievable, Realistic Timed
Sausage, Mash, Avocado, Raddish, Tomatoes
The percentage of sales a single business has in relation to the whole market is...
market size
profit
revenue
market share
Restrictions imposed on businesses due to social distancing mean many businesses may have changed their objectives from growth to
being more ethical
making more profit
survival
The increasing popularity of online banking means banks are likely to change their objectives from hiring more workers to
making more profit
survival
reducing their workforce
Increasing sales of cosmetics in China means that UK cosmetics brands will be looking to
manufacture in China
enter the Chinese market
sell more cosmetics in the UK
The panic buying of toilet roll and pasta in March 2020 lead Tesco to
Increase their product range
Increase the number of stores
Reduce their product range (to make more room for pasta and toilet roll)
