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Paper 1 Quiz - Themes 1 and 4 Flashcards | StudBud
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Paper 1 Quiz - Themes 1 and 4
Paper 1 Quiz - Themes 1 and 4
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Theme 1 and 4 Edexcel Business A Level
Flashcards
41 cards
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Practice quiz
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Questions
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Answers
1
An example of below the line promotion includes...
Television Advertisement
Radio
Loyalty Cards
Internet
2
An ethnocentric approach is where an...
overseas market are seen as completely different.
there are diseconomies of scale.
overseas market is seen as identical.
a combination approach with polycentric.
3
A high context culture...
emphasises interpersonal relationships.
has explicit communication.
4
What does FDI stand for?
Foreign Direct Imports
Foreign Direct Investment
Foreign Duties Investment
Funding Direct Investment
5
What is specialisation?
marketing strategy focused on the product.
production strategy looking to minimise waste.
marketing strategy focusing on a limited target audience.
production strategy focusing on a limited scope of products.
6
A country with the following with be an attractive market to enter...
Economic recession
Low skilled labour
Increasing disposable income
Low levels of literacy
7
Social pressures have resulted in the following impact on the the 4P's EXCEPT...
Emotional Branding
Ethical supply chains
Press Conferences
Viral Marketing
8
What is a sampling discrepancy?
When secondary research is outdated.
When respondents answer an online survey.
When the sample is not representative of the population.
When a research sample answers closed questions only.
9
What is an advantage of operating in a Niche market?
Market Research is not required.
Market leadership is likely.
Costs are higher.
Less competition.
10
Which of the following are NOT ways in which ICT can aid market research.
Customer Databases
Cloud Computing
Social Media
Company Websites
11
The iPhone 8 is likely to use...
Predatory Pricing
Competitive Pricing
Price Skimming
Penetration Pricing
12
The Human Development Index (HDI) represent...
Literacy, Life expectancy, GDP
Life expectancy, Schooling, GNI
GDP
Income, Schooling, Lifestyle
13
A disadvantage of franchising for the franchisor is...
Poor franchisees may damage a brand's reputation.
Franchisees take on some of the financial risk.
Increased motivation for Franchisees.
The royalties they receive.
14
A benefit of delaying is...
More opportunities for promotion.
Increased Delegation
More narrow spans of control.
Increased staffing costs.
15
Opportunity Cost is...
The difference between risk and reward.
A trade-off
The next best alternative foregone...
Choosing being two options.
16
An advantage of a centralised business is...
Allows the business to react to local customer needs.
Empowers workers.
Quicker decision making.
Increased Delegation.
17
What is the formula for Market Share?
Sales of a Business / Total Market Sales x 100
Sales of a Business / Total Market Sales
Original Market Size / Total Market Size x 100
Actual Capacity / Maximum Capacity x 100
18
Which description best describes the maturity phase of the product life cycle?
High level of research.
Products are withdrawn.
Businesses start to develop extension strategies.
Heavy investment in brand awareness promotion methods.
19
Market penetration involves...
Most risk
Entering a new market
Least risk
Developing a product
20
The following is a form of collective bargaining...
Individual Negotiation with Employer
Redundancy
Industrial Action
Dismissal Warning
21
Market Orientation is...
An approach which emphasises the consumer.
An approach which emphasises economies of scale.
An approach which emphasis external factors.
An approach which emphasises the production process/product.
22
Each of the following are trading blocs EXCEPT...
Tariffs
The EU
An Economic union
A preferential trading area
23
A PLC is most likely to...
Benefit from economies of scale.
Have increased production costs.
appeal to small local market.
have owners who make the main decisions of the business.
24
A paternalistic leader...
allows employees to make their own decisions.
makes decisions without consultation.
makes decisions considering employee welfare.
makes decision with workers participation.
25
All limited companies...
Have unlimited liability.
Have a board of directors.
Sell shares publicly.
Have a sleeping partner.
26
Which of the following factors does NOT lead to a change in supply?
Advertising and branding.
Change in the cost of production.
Government Subsidies.
Weather.
27
An example of intellectual property is...
Copyrights
Trademarks
Customer Service
Patents
28
A market segment is...
The time and date consumers shop.
A small group of individuals.
Division of people according to social class.
Part of a market where customers share characteristics.
29
Demand is income elastic (%Δ in quantity demanded / %Δ in income) if...
the value is greater than 1.
the value is less than 1.
30
What is the impact of an import quota?
limits on the quantity of imports allowed into a country.
increases the costs of imports allowed into a country.
increased the quantity of imports allowed into a country.
increase globalisation.
31
What is the impact of a pressure group...
Controlling MNCs.
Encouraging free trade.
Increasing taxation.
Lowering company costs.
32
Which of the following is a NOT a dynamic market?
Mobile Phones
Automobiles
Soft Drinks
Home Entertainment
33
An example of a pull factor is...
Risk spreading
Saturated Market
product life cycle
Competition
34
What would Taylor disagree with?
Division of labour.
Extended lunch hour on a Friday.
Piece rate pay.
Tight management control.
35
Cost is an likely to be the most important element of the design mix for...
Facebook
Primark
Apple
Nike
36
The following factors contribute to Globalisation except...
Communism loosening in China.
Reduced transport costs
Increased significance of global companies
Protectionism
37
A question mark in the Boston Matrix is...
High Share, Low Growth
Low Share, Low Growth
High Share, High Growth
Low Share, High Growth
38
Competition does not lead to...
Less Market Research.
Better value for customers.
Better quality product.
Powerful Advertising.
39
What is market positioning?
consumer perception product features compared to others.
a tool used for spotting a gap in the market.
changing the view consumers have about a product.
extra features that increase the price of a product.
40
An inferior good is...
goods for which demand will rise if incomes rise of fall.
goods for which demand will fall if incomes rise or fall.
goods purchased together as they are consumed together.
goods bought as an alternative to others.
41
Which of the following are NOT features of a focus group?
Primary Research.
Expensive.
Sample may be too small.
Qualitative information gained.
