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GCSE OCR Business Studies 9-1 End of Year 1 Quiz Flashcards | StudBud
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GCSE OCR Business Studies 9-1 End of Year 1 Quiz
GCSE OCR Business Studies 9-1 End of Year 1 Quiz
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Business Studies - Unit 1, 2 and 3
Flashcards
25 cards
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Questions
25
Answers
1
A business which operates as a partnership:
Is controlled be shareholders
Has no external stakeholders
Has at least two owners
Is owned by the government
2
Apple prices the new iPhone 11 at £1100. Which type of pricing strategy is this?
Price Skimming
Promotional Pricing
Price Penetration
Psychological Pricing
3
Which one of the following is
not
a reason to start your own business?
To pursue personal interests
To satisfy customer needs
To increase financial risk
To be your own boss
4
Which one of the following is a benefit of business planning?
It reduces the amount of profit a business can make
It reduces the chances of business failure
It increases business risk
It increases the legal requirements on a business
5
Which of the following is
most
likely to describe the characteristics of an entrepreneur?
Determined and creative
Risk averse and disorganised
Disorganised and inflexible
Inflexible and determined
6
Which of these is an example of a primary source of market research?
Field research
Internet research
Focus groups
Magazine articles
7
Which of the following could be a reason why two businesses have different objectives?
One business is a new and the other is well established
Diversification is not allowed
The law doesn't allow businesses to have the same objectives
The government sets specific objectives for every business
8
Which of the following is likely to help an established company obtain a bank loan?
A person specification
A business plan
A job description
An organisation chart
9
Which of the following would increase the market share of a company?
Spending less money
Reducing output
Making its products more appealing
Employing fewer staff
10
What is the role of the wholesaler in the distribution channel?
To advertise the product
To make the product
To store the goods under the legal temperature
To break bulk
11
A young entrepreneur may choose to operate as a partnership because:
No planning is required
A partnership is the simplest form of business to set up
The responsibility for important decisions can be shared
All of the profit can be kept
12
The reward for enterprise is:
Profit
Hard work
Risk
Self-discipline
13
Which of the following is a benefit to a business of advertising in a local newspaper?
A large audience can be reached
Audio visual techniques can be used
Readership of newspapers is growing
A specific place can be targeted
14
Which one of the following types of business can sell shares on the stock exchange?
Partnership
PLC
Ltd
LLP
15
A clothing manufacturer buys a multiscreen cinema. What is this an example of?
Forwards vertical integration
Horizontal integration
Backwards vertical integration
Diversification
16
Which of the following is an internal stakeholder?
Suppliers
Employees
The government
Local residents
17
A jewellery shop sells Rolex watches. Which market segment are they most likely to target?
People with high incomes
Young, single men
Families with children under five years of age
People is the South East of the UK
18
The owners of a business with limited liability:
Can only sell goods to local markets
Must not change their business objectives
Are not required to obey employment law
Do not have to pay business debts with personal funds
19
A business makes jeans. Which of the following is the role of its suppliers?
To advertise the jeans on national television
To deliver fabric and fastenings on time
To buy large quantities of jeans
To pay the wages of the sewing machinists
20
The UK government requires sole traders to:
pay tax on profits
advertise online
operate from home
employ staff
21
Which one of the following is one of the four P's of marketing?
Pay
Price
Packaging
Parcel
22
References may be used as part of the selection process to find out:
what previous employers think of the applicant
the ideas that an applicant has
the contact details of the applicant
which qualifications the applicant has
23
Which one of the following would provide details of the previous work experience of applicants?
CV
Group tests
Job description
Person specification
24
Group activities may be used as part of the selection process to find out:
the contact details of the applicant
what previous employers think of the applicant
how well an applicant works with others
which qualifications the applicant has
25
Which one of the following is
not
a benefit to a business of setting objectives?
Can be used to motivate the workforce
Clear direction for decision makers
Increased manager workload
Business performance can be measured against targets
