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Year 10 Business Studies End of Year Quiz

Total questions: 80

Worksheet time: 3600secs

Name
Class
Date
1.
A motivated employee is one that:
a)
Is paid a high salary
b)
Wants to perform as well as possible at work
c)
Is never absent from work
d)
Is given a discount on any business purchases
2.
A benefit of having a high staff retention rate in a business is:
a)
A large number of new employees need to be employed by the firm
b)
Costs of recruitment and selection will fall
c)
The business will undertake large amounts of induction training
d)
Lots of new skills and experience will be brought into the workplace
3.
Which of the following is a financial method of motivation that a business could use to motivate its staff?
a)
Profit sharing
b)
Free uniform
c)
Staff discount
d)
Company car
4.
The payment method whereby employees receive an annual amount, paid in 12 monthly instalments, regardless of hours worked is called:
a)
Commission
b)
Piece rate
c)
A wage
d)
A salary
5.
Which of the following is a well-known employee owned British business that refers to its staff members as “partners” and rewards them using profit sharing?
a)
Sports Direct
b)
Ikea
c)
John Lewis
d)
Ryanair
6.
Which of the following job roles is most likely to be paid by commission?
a)
A director
b)
A cleaner
c)
A production line worker
d)
A sales representative
7.
“Extras” that are given to employees on top of their monetary pay are called:
a)
Piece rate
b)
Fringe benefits
c)
A wage
d)
A salary
8.
Which of the following is an example of a non-financial method of motivation?
a)
Profit sharing
b)
Commission
c)
Performance related pay
d)
Training
9.
When a business fills a job vacancy with a member of its current workforce it is called:
a)
External recruitment
b)
Internal recruitment
c)
Recruitment and selection
d)
Labour retention
10.
Which of the following is a drawback to a firm of using internal recruitment to fill a job vacancy?
a)
It is expensive
b)
Limited new ideas are introduced to the firm
c)
Personalities of potential applicants are known
d)
Gives existing employees a chance to be promoted
11.
Which of the following is a reason why a business would need to recruit new employees?
a)
It is expanding into new markets
b)
It is delayering its organisational structure
c)
Its staff retention rate this year is 100%
d)
Demand for its products has fallen by 30% during the year
12.
Which of the following best describes the term selection?
a)
Identifying there is a job vacancy in the first place
b)
Reviewing an applicant’s curriculum vitae
c)
Asking for references from previous employers
d)
Choosing the best person to fill a job vacancy
13.
Which of the following is the first stage of the recruitment and selection process?
a)
Job analysis
b)
Short listing
c)
Advertising the vacancy
d)
Drawing up a contract of employment
14.
Which of the following is the most important item to include in a job advertisement for an administration role in a large company?
a)
Closing date for applications
b)
Detailed history of the firm
c)
A photo of the board of directors
d)
Details of health and safety procedures
15.
Which of the following is included in the recruitment process?
a)
Job description
b)
Telephone interview
c)
Role plays
d)
Team building challenges
16.
Which of the following might an organisation request from a previous employer before, or after, an interview to verify a candidate’s experience and work ethic?
a)
A contract of employment
b)
A personality test
c)
A reference
d)
A job analysis
17.
When an employee is contracted to work between 35-40 hours each week it is known as a:
a)
Part time contract
b)
Full time contract
c)
Zero hours contract
d)
Job share
18.
Which of the following job roles is most likely to be offered as a full time position?
a)
A director
b)
A team leader
c)
A shop floor worker
d)
A production line worker
19.
An employee is not guaranteed a set number of hours to work each week. This type of contract is called:
a)
Temporary
b)
Part time
c)
Zero hours
d)
Job share
20.
Which of the following is the main advantage to a business of having a formal, internal organisational structure?
a)
Employees have clearly defined job roles and duties
b)
The layout of the organisation will be detailed on a map for new staff
c)
Every employee will report to at least two line managers
d)
Labour productivity will be lower
21.
An employee that is directly below another employee in the organisational structure is classed as a:
a)
Superior
b)
Subordinate
c)
Line manager
d)
Shop-floor worker
22.
Which of the following organisations is most likely to have a flat organisational structure?
a)
The army
b)
A mobile hairdressing business with two employees
c)
The central government department responsible for the environment
d)
A large secondary school
23.
Which of the following best describes the term chain of command?
a)
Lines of authority in an organisation along which communication flows
b)
Passing authority to others
c)
A subordinate giving feedback to a superior
d)
The number of employees that directly report into a line manager
24.
Which of the following is a reason why a business may decide to delayer its organisational structure?
a)
It has changed its legal structure from a sole trader to a partnership
b)
It yearly profits have increased by 10%
c)
It wants more layers of management in the organisation
d)
It wishes to decrease total staff costs
25.
In which type of organisational structure would communication from the top of the organisation to the bottom layer of the organisation be the fastest?
a)
Regional
b)
Tall
c)
Hierarchical
d)
Flat
26.
Which of the following best describes the term decentralisation?
a)
The business is organised into different functional areas
b)
Key decisions are made by a small number of senior staff
c)
The business is geographically widespread
d)
Junior managers are given authority to make important decisions
27.
Which of the following is an advantage of centralisation?
a)
Decision making is consistent across the organisation
b)
Increased motivation amongst junior managers
c)
Increased staff involvement in the decision making process
d)
Reduces the pressure on senior managers
28.
Machinery is an example of which factor of production:
a)
Land
b)
Labour
c)
Capital
d)
Enterprise
29.
A business decides to use £1 million from its bank account to invest in new machinery. The opportunity cost of this decision is that the:
a)
New machinery may increase business output
b)
Business is no longer earning money (interest) in the bank
c)
Business has to pay £1 million for the new machinery
d)
Quality of the product may be improved
30.
Conflict is likely to occur between which of the following stakeholder groups when a factory decides to introduce a night shift to increase output levels:
a)
Suppliers and employees
b)
Owners and local community
c)
Customers and owners
d)
Employees and customers
31.
Which of the following defines the term fixed cost? A cost which:
a)
Varies according to revenue
b)
Is only ever paid once
c)
Varies according to output
d)
Stays the same regardless of how much is produced
32.
Details regarding how products will be produced and information relating to suppliers will be included in which part of a business plan?
a)
Marketing
b)
Human resources
c)
Finance
d)
Operations
33.
A business which grows potatoes and makes them into crisps is said to be operating in the:
a)
Primary and secondary sectors
b)
Primary and tertiary sectors
c)
Secondary and tertiary sectors
d)
Primary, secondary and tertiary sectors
34.
A business decides to increase its selling prices. Which of the following stakeholders is most likely to be affected?
a)
Suppliers
b)
Local community
c)
Employees
d)
Customers
35.
Which of the following statements is true of a public limited company?
a)
It has unlimited liability
b)
It is owned by the board of directors
c)
It does not have to pay its shareholders a dividend
d)
It is controlled by shareholders
36.
Which of the following businesses is most likely to locate next to a source of skilled labour?
a)
Fast food restaurant
b)
High street fashion chain
c)
A budget hotel
d)
A car manufacturing plant
37.
Which of the following is an advantage of growth through opening new stores?
a)
Growth may be dependent on overall market growth
b)
Less risky than taking over other businesses
c)
Fast way of growing market share compared to external growth
d)
New stores are guaranteed to be successful
38.
When a business increases its sales as a percentage of total market sales it is said to be:
a)
Increasing its market share
b)
Improving its customer satisfaction
c)
Increasing its shareholder value
d)
Maximising its profits
39.
Last year a business sold 500 units per year. Fixed costs per year were £25,000 and its variable cost per unit was £90. This year sales and fixed costs remained the same, but variable costs per unit have increased by 10%. What is the business’s total costs this year?
a)
20000
b)
24500
c)
70000
d)
74500
40.

Which of the following is a benefit to an organisation of having a tall organisational structure?

a)

There will be a flexible approach to decision making

b)

Less responsibility is given to employees lower down the hierarchy

c)

Long chain of command

d)

Roles and responsibilities of each member of staff are clearly defined

41.

Which of the following best describes the term limited liability? If the business fails:

a)

Personal possessions of the owner can be taken to pay any debts

b)

The owner is personally liable for all the debts of the business

c)

There is no limit on the amount the owner has to pay to settle debts

d)

The owner only loses the amount invested in the business

42.

Which type of legal structure is used when two or more people join together to start a business and have unlimited liability?

a)

Sole trader

b)

Partnership

c)

Private limited company

d)

Public limited company

43.

What are the owners of private and public limited companies called?

a)

Stakeholders

b)

Managers

c)

Board of directors

d)

Shareholders

44.

Which of the following is an advantage of operating a large established business as a public limited company?

a)

Shares can be sold to the public to raise additional finance

b)

Financial accounts are published

c)

Shares can only be sold to invited investors to raise finance

d)

Owners have unlimited liability

45.

Which of the following is a drawback for an entrepreneur setting up a business as a sole trader?

a)

Profit is shared

b)

Financial accounts are kept private

c)

Limited liability

d)

Unlimited liability

46.

Which of the following is a disadvantage of setting up a business as a partnership?

a)

Shared losses

b)

Shared workload

c)

Shared profit

d)

More ideas generated

47.

Which of the following types of business can advertise shares for sale to the general public?

a)

Sole trader

b)

Partnership

c)

Private limited company

d)

Public limited company

48.

A private limited company may change into a public limited company because it wants:

a)

Limited liability

b)

To raise additional finance

c)

Unlimited liability

d)

To avoid takeover

49.

Which of the following would be classed as a not-for-profit organisation?

a)

H&M

b)

EE

c)

OXFAM

d)

M&S

50.

Which of the following is a disadvantage of being a private limited company?

a)

It has a separate legal identity and therefore continuity

b)

Control is kept over who buys shares in the company

c)

Shareholders’ personal possessions cannot be taken to pay any debts

d)

A summary of the business’s accounts can be viewed by the public

51.

Which of the following is an advantage of a business operating as a partnership over a sole trader?

a)

Unlimited liability

b)

Profits are shared

c)

Shared responsibility

d)

Financial accounts are kept private

52.

Which of the following legal structures can sell shares on the stock market?

a)

Sole trader

b)

Partnership

c)

Private limited company

d)

Public limited company

53.

Which of the following statements is always true of a public limited company?

a)

Shareholders have day to day control of the company

b)

Liability is limited

c)

The ability to expand is limited

d)

Board of directors own the business

54.

Which legal structure would an individual wishing to start-up a small business choose because it is quick, easy and inexpensive to set up?

a)

Sole trader

b)

Partnership

c)

Private limited company

d)

Public limited company

55.

Which of the following is a disadvantage of being a public limited company?

a)

The business is at risk of takeover

b)

Large sums of money can be raised

c)

Unlimited liability

d)

Limited liability

56.

Which of the following best describes a business objective?

a)

It sets out specifically how a business aim can be met in a certain time

b)

It is a general goal of the business

c)

It is a qualitative statement that is displayed publically in the firm

d)

It is target that will never change

57.

Budget airline, easyJet aims to reduce fuel usage and carbon emissions of its aircraft. This is an example of:

a)

A social objective

b)

An environmental objective

c)

A shareholder objective

d)

A profit objective

58.

UK supermarket, Tesco has opened stores all over the world. Which of the following objectives has the supermarket met?

a)

Increasing customer satisfaction

b)

International growth

c)

Profit maximisation

d)

Increasing shareholder value

59.

Which of the following statements best defines the term market share?

a)

The increase in total sales made by a business

b)

The percentage increase in sales made by a business

c)

The increase in total market sales

d)

The percentage of total market sales made by one business

60.

British cosmetics business, Lush makes products such as soaps and shampoos. It does not buy ingredients that have been tested on animals. This is classed as:

a)

A growth objective

b)

An ethical objective

c)

A profit objective

d)

A shareholder objective

61.

Which of the following is the main aim of a not-for-profit organisation?

a)

Growth

b)

Profit maximisation

c)

Increase market share

d)

Benefit society

62.

Which of the following would be an example of international expansion?

a)

A UK coffee shop chain opening a new store in London

b)

A UK clothes retailer opening another store in the UK

c)

A UK supermarket opening stores in Spain

d)

A UK car manufacturer opening a factory Birmingham

63.

Vauxhall aims to increase the number of cars it sells in the UK as a proportion of the total UK car market sales. Which of the following best describes this aim?

a)

Increasing shareholder value

b)

International expansion

c)

Increasing market share

d)

Maximising profit

64.

Which of the following is the main reason a business would set business objectives?

a)

To increase its market share

b)

To help the local community

c)

To provide direction to the firm

d)

To satisfy its customers

65.

Which of the following objectives has been met if a company’s share price increases?

a)

Customer satisfaction

b)

Increase in shareholder value

c)

International growth

d)

Domestic growth

66.

Which of the following objectives is a start-up business operating in a competitive market most likely to set in its first six months of trading?

a)

Domestic growth

b)

Increasing shareholder value

c)

Survival

d)

Profit maximisation

67.

Which of the following businesses is most likely to set international growth as an objective?

a)

A sole trader that provides a local service

b)

A profitable UK business wishing to find new markets

c)

An established business suffering losses

d)

A profitable UK business wishing to increase domestic sales

68.

Which of the following is the most likely objective of a large, established and highly profitable international business?

a)

Market dominance

b)

Making a profit

c)

Survival

d)

Domestic growth

69.

Which of the following businesses is most likely to be concerned with being close to competitors rather than customers?

a)

Estate agent

b)

Hairdresser

c)

Newsagent

d)

Butcher

70.

The rise of the internet has led to the closure of many high street travel agent branches. This is because, recently, being located close to:

a)

Competitors has become more important

b)

Raw materials has become less important

c)

Labour has become more important

d)

Customers has become less important

71.

Which of the following is an example of a need?

a)

TV

b)

House

c)

Car

d)

Phone

72.

What are the four factors of production?

a)


Land, labour, capital and enterprise

b)

Product, price, place and promotion

c)


Job, flow, lean and just-in-time

d)

Land, flow, labour,promotion, product

73.

What is the name for something that is given up in order to do something else?

a)


Economy of scale

b)


Distribution channel

c)

Opportunity cost

d)

Limited Liability

74.

What factor of production is the machinery and equipment used to manufacture goods?

a)

Land

b)

Labour

c)


Capital

d)

Enterprise

75.

Which sector is a diamond mine part of?

a)


Primary

b)


Secondary

c)


Tertiary

d)

Origin

76.

Which of these businesses is in the tertiary sector?

a)

Farm

b)


Beauty Salon

c)

Biscuit factory

d)

Haulage company

77.

Why might an entrepreneur start their own business?

a)


To pursue an interest

b)

It is a low risk option

c)

To have a regular income

d)

Because they're bored

78.

What is a computer an example of?

a)

An opportunity cost

b)

A service

c)

A good

d)

None of these

79.

Which job is in the primary sector?

a)

Teacher

b)

Police officer

c)

Farmer

d)

Delivery Driver

80.

What best describes a dynamic market?

a)


A slowly changing business environment

b)

A rapidly changing business environment

c)

A business environment that is unlikely to change

d)

More businesses than normal closing

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