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WorksheetsBusiness Planning Quiz
Total questions: 15
Worksheet time: 9mins
Why is it important for Cheska to draft a business plan before launching her stationery shop?
To guarantee her business will face no challenges.
To systematically plan her expenses, marketing strategies, and identify her customer base.
To unnecessarily complicate the startup process.
To allow her to make impulsive financial choices.
Leah is planning to start a small bakery. What parts are essential for her business plan?
Only the recipes, to ensure she remembers them.
The quantity of cookies she plans to consume daily.
The target market, their preferences, and how her bakery will meet their demands.
A directory of all the bakeries in her area without strategizing her own business.
Gio is starting a lemonade stand. What question will help him the most?
"How can I make the best lemonade while earning a fair profit?"
"How much should I spend on decorations?"
"How can I charge the highest price possible, even if no one buys?"
"How can I make sure my lemonade is the most expensive?"
Paolo wants to promote his eco-friendly bags, which are more expensive to produce. What strategy can he use to ensure fair pricing and profitability?
Reduce the quality to cut costs.
Determine a fair price by analyzing production expenses and market rates.
Offer them at a loss to increase customer interest.
Price them high so only a select few can purchase.
Carlos is considering adjusting the price of his handmade friendship bracelets. Each bracelet costs him ₱50 to produce, and he initially applied a 40% mark-up. His friend suggests setting the price at ₱90 to increase profits. What factors should Carlos evaluate before making this change?
Whether the new price will still be attractive to customers.
If the increased price might drive customers to competitors.
If a higher price will automatically lead to increased sales.
If his friends will perceive his bracelets as high-end products.
Mia is setting the price for her homemade cookies. Which of the following factors is least important in determining her pricing strategy?
The cost of ingredients and baking materials.
The usual prices customers are willing to pay.
The pricing of similar products in the market.
Setting a price without considering any factors.
Marco is looking to buy a new school bag and has two choices—one priced at ₱600 and another at ₱900. What factors should he consider before making a purchase?
Opt for the cheaper one to save money.
Go for the more expensive one assuming it's of better quality.
Evaluate the quality, durability, and read customer reviews before deciding.
Choose randomly, as the price is not important.
Ella sells jackets for ₱200, but customers frequently complain about the price. What should she consider before making a decision?
Lowering the price, even if she loses money.
Evaluating whether she can adjust mark-up or reduce production costs.
Stopping her jacket business completely.
Continuing at ₱200 and ignoring customer feedback.
Sofia is planning to launch her own café with a special coffee blend. She is concerned about attracting customers and setting the right prices. Which section of her business plan should she prioritize to tackle these issues?
Executive Summary, as it outlines the overall vision of her café.
Market Analysis, to understand customer preferences and competitor pricing strategies.
Business Description, to focus on detailing her unique coffee blend.
Marketing and Promotional Strategy, to plan discounts before identifying her target audience.
What is a potential risk of not creating a business plan for a new T-shirt printing venture?
They will instantly achieve success due to their innovative idea.
They might encounter unforeseen challenges, like financial mismanagement or misidentifying their target market.
They will gain immediate profits by avoiding planning time.
They will have extra time to concentrate on shirt designs instead of strategizing.
Mariel runs a small printing business and calculates her costs before pricing her products. She makes sure to add an amount to cover her production expenses and gain a profit. What is the term for the total price that includes both costs and profit?
The amount added to the cost price to cover expenses and profit.
The price at which a product is sold without any profit.
The total cost of raw materials only.
The amount deducted from the selling price to attract customers.
Liam wants to calculate his profit using a 30% markup. If the total cost of making the burgers is ₱1,184.00, how much profit will he earn?
₱355.00
₱350.00
₱400.00
₱450.00
Sophia needs to compute the total markup price before setting the selling price. If the profit is ₱306.00 and the total cost is ₱1,020.00, what is the total markup price?
₱1,200.00
₱1,326.00
₱1,500.00
₱1,600.00
Emma wants to set the selling price per burger after computing the total markup price of ₱1,326.00 for 10 burgers. What will be the selling price per burger?
₱103.00
₱123.00
₱133.00
₱143.00
Direction: Match the business plan component in Column A with its correct description in Column B.
Market Analysis
Examination of the target market
Description of Products or Services
Detailed description of the products
Executive Summary
A brief overview of the business
Marketing and Promotional Strategy
Outline of the approach to marketing
Business Description
Detailed information about the business
