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BTEC Business Level 3 Unit 1#kate Flashcards | StudBud

Explore/BTEC Business Level 3 Unit 1#kate

BTEC Business Level 3 Unit 1#kate

10 terms·StudBud Administration·160 plays

A #business #level 3 #unit 1 quiz to test knowledge and understanding of key terms

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Questions 10

Answers

1
What supermarket had the second largest market share?
Tesco
Waitrose
Sainsbury's
Morrisons
2
What is the impact of a recession?
Higher unemployment
More people spend money
Low unemployment
Increase in wages
3
What do you call someone with an interest in a business?
A fan
customer
Shareholder
stakeholder
4
Which of the following is not a stakeholder?
Employee
Trade Union
Tax Payer
Customer
5
What is the impact of higher inflation?
Higher employment
Decrease in the price of goods and services
Increase in the price of goods and services
More money available from government
6
What is the impact of low interest rates for Marks and Spencer?
People spend less money on goods
The company profits are reduced
People spend more money goods
Higher unemployment
7
What does GDP mean?
Gross Domestic Product
Greater Domestic Product
General Domestic Prices
Gross Department Profit
8
which one of these is an external stakeholder?
Employee
Manager
Supplier
Owner
9
What is economic growth?
more money provided by government
increase in the amount of goods and services
increase in population
increase in buildings
10
What is a dividend?
Diversity within the product range
Money paid to employees
Payment paid to shareholders
A divide in products