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MCC Business Olympics-Part B Flashcards | StudBud
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MCC Business Olympics-Part B
MCC Business Olympics-Part B
15 terms
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StudBud Administration
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48 plays
Test your knowledge on various business concepts including globalisation, HR, marketing, and more.
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
What is the difference between a price leader and a price taker?
a price taker sets the price and price leader follows it
a price leader influences prices, while a price taker follows price
both can set the market price
both have market power
2
Which one is not a function of HR?
Business Development
Training
Performance Management
Recruitment
Onboarding
3
Which are true about retailers and wholesalers?
Retailers are B2C because they sell to consumers
Both are part of the supply chain
Wholesalers are B2B because they sell to other businesses
Consumers buy from wholesalers
Retailers sell to other shops
Retailers sell directly to consumers, wholesalers sell to businesses
4
Which of the following are types of business ownership?
limited liability company
investor
charity
sole-trader
limited company
partnership
5
What is the difference between a consumer and a customer?
A consumer is the end-user of a product and a customer purchases it
A customer consumes the product and a consumer selects the product
They are the same
Both the customer and the consumer buy the product
6
Which of the following companies provide a product?
BMW
British Telecom
Wimpy
Marks and Spencer
British Airways
River Island
7
An SME is........
A medium-sized business
A small business
A micro-enterprise
A large factory
8
Which of the following are franchises?
Costa Coffee
Subway
Starbucks
Taco Bell
Sainsburys
Tesco
9
Which of the following companies provide a service?
Admiral insurance
Aldi
Amazon
Vodaphone
Lidl
MacDonalds
10
Why is it important to have a good branding company strategy?
attracts top talent
builds loyalty with customers
establishes unique identity
increases company value
will make products more expensive
11
Which is not one of the 4 Ps of Marketing?
Place
Product
Partnership
Promotion
Price
12
What is 'guerilla marketing'?
The life about gorillas in the jungle
News about international wars
Unconvential marketing strategy to provoke sentiment
Reporting on soldiers' careers
13
Explain some of the features of globalisation
More Food
Migration of people
Increased international trade
Less crime
Capital flows and investment
Advanced technology
14
What does HR stand for?
Human Resources
Health Relevance
Human Requirements
Health Resources
15
An accountant is a blue-collar worker
False
True
