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Worksheets2.1 - Unit recap quiz
Total questions: 25
Worksheet time: 13mins
Which of the following is true in relation to sources of finance for growing and established businesses?
Selling assets is an external source of finance
Share capital is an external source of finance
Retained profit is an external source of finance
Loan capital is an internal source of finance
Which of the following best describes the term takeover?
When two firms agree to join together to make one new business
When a business finds a new market in another country
When one business purchases another business
When a business brings something new to the market
Which method of growth will most likely reduce the number of businesses that operate in a domestic market?
Expansion overseas
Opening of new stores
Takeover of another business in the home country
Entry into new foreign markets
Which of the following is a disadvantage to a retailer that operates through a number of physical stores of growing through the use of e-commerce?
The business does not have to open more bricks and mortar stores
Customers can be accessed 24 hours a day
An online store adds another purchasing opportunity for customers
Customers may buy online and stop using any physical stores
Selling goods online is an example of which method of growth?
Merger
Opening new physical stores
Takeover
Changing an element of the marketing mix
Which of the following is an advantage to a growing business of changing business ownership and becoming a public limited company?
Owners have unlimited liability
Shares can be sold to the public to raise finance
Financial accounts are published
Shares can only be sold to invited investors
Which two of the following are internal sources of finance for established businesses?
Stock market flotation
Selling assets
Loan capital
Retained profit
Share capital
ALDI plans to recruit 4,000 new employees in the UK over the next 3 years. This is an example of the business:
Focusing on survival
Exiting markets
Growing its workforce
Decreasing its product range
The introduction of the National Living Wage meant some businesses had to change their aims and objectives. This was in response to a change in:
Technology
Business performance
Internal factors
Legislation
A business changes it aims and objectives following the appointment of a new managing director. The change was in response to:
Technology
Market conditions
Internal reasons
Legislation
When a business makes redundancies it is an example of it focussing upon:
Growth
Entering new markets
Reducing its workforce
Increasing its product range
Which two of the following are direct examples of businesses growing their workforce?
The Range opens a new store creating 80 job vacancies
Tesco decides to exit the Japanese market
New Look considers closing 60 stores across the UK
Lidl creates 700 new posts as it expands its business
Morgan adds a three wheeler vehicle to its range of cars sold in China
Which of the following 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 of the following best describes the term pressure group?
An individual that has shares in a business
Anyone who has an interest or is affected by the activities of a business
An individual or organisation that provides a business with materials
An organisation with shared aims that seek to influence opinions, decisions and policy
Which of the following statements 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
Pressure groups are campaigning for the replacement of single use plastic items, such as straws, with sustainable alternatives. A fast food outlet has responded by providing customers with paper straws. Which element of the marketing mix has changed?
Product
Price
Pormotion
Place
Which of the following is an example of how a business could accept greater environmental responsibility?
Reduce the trade credit period to pay suppliers by five days
Pay material suppliers a fair price for any goods purchased
Use more fuel efficient methods to transport bulky products
Pay all employees above the National Living Wage
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
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
ASEAN (Association of South East Asian Nations) is an example of which of the following?
Tariff
Import
Trade bloc
Export
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
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 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
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
