AS Business Revision

Question 1

If a market is worth £400,000 and grows by 5% what is the new market size?

Accepted Answer

£420,000

Question 2

The cash flow in the introductory phase of the PLC is likely to be positive.

Accepted Answer

False

Question 3

Budgeted expenditure was £62,000, actual was £64,000. variance was?

Accepted Answer

£2,000 adverse

Question 4

If sales rise as promotional expenditure rises this is known as a positive ....?

Accepted Answer

correlation

Question 5

Net cash flow is calculated by:

Accepted Answer

Cash Inflows- Cash Outflows

Question 6

Choosing which segment of the market to operate in is known as?

Accepted Answer

targeting

Question 7

Sales of brand X are £40,000 which is a market share of 8% what is the size of the market?

Accepted Answer

£500,000

Question 8

Which of the following is an operational objective.

Accepted Answer

To reduce waiting times

Question 9

When transforming inputs into outputs Operations Management aims to...

Accepted Answer

Add Value

Question 10

Which of the following is a way to position yourself in a market?

Accepted Answer

Price, Product

Question 11

Identify one source of secondary data.

Accepted Answer

ONS Survey

Question 12

If a business sells £80,000 and has 2% of the market, what is the size of the market?

Accepted Answer

£4,000,000

Question 13

Identify two ways of measuring the size of the market.

Accepted Answer

Sales Value, No of products sold

Question 14

A business has FC of £100,000, vc per unit of £15 and selling price of £25. Break Even is?

Accepted Answer

10,000 units

Question 15

What is factoring?

Accepted Answer

The selling of debts to a 3rd party

Question 16

The series of activities taking raw materials and turning them into finished goods is called.

Accepted Answer

The supply chain

Question 17

Which might lead to a cash flow problem?

Accepted Answer

Major customer goes into administration

Question 18

A reduction in the quantity or value of inventory held would normally:

Accepted Answer

improve cash flow

Question 19

Which of the following pricing strategies allows you to sell at a high price initially?

Accepted Answer

Price Skimming

Question 20

The difference between the operating point and the break even point is known as

Accepted Answer

Margin of safety

Question 21

The buying and selling of products through an electronic medium is known as .......

Accepted Answer

e-commerce

Question 22

If future sales are predicted on the basis of past sales forecast this is known as......?

Accepted Answer

extrapolation

Question 23

When a high proportion of labour is used relative to machinery it is known as:

Accepted Answer

Labour Intensive

Question 24

A small gap in the market is know as a market ..............

Accepted Answer

niche

Question 25

A product with high market growth and low market share is known as a ................

Accepted Answer

Problem Child

Question 26

If the PED is -3 this is known as.......?

Accepted Answer

elastic

Question 27

Identify two possible marketing objectives

Accepted Answer

Increasing growth in the market, Building brand loyalty

Question 28

A product with high market share and high market growth is known as .................

Accepted Answer

Star

Question 29

If the market size increases from £50,000 to £60,000 what is the growth rate.

Accepted Answer

20%

Question 30

Grouping customers by their religion is a type of ........... segmentation

Accepted Answer

demographic

Question 31

The range of products a business has is known as ..................

Accepted Answer

Product Portfolio

AS Business Revision

Questions 32

AS Business Revision

Questions 32