AS Business Revision

Question 1

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

Accepted Answer

correlation

Question 2

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

Accepted Answer

Margin of safety

Question 3

What is factoring?

Accepted Answer

The selling of debts to a 3rd party

Question 4

Which might lead to a cash flow problem?

Accepted Answer

Major customer goes into administration

Question 5

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

Accepted Answer

demographic

Question 6

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

Accepted Answer

Problem Child

Question 7

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

Accepted Answer

extrapolation

Question 8

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 9

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

Accepted Answer

improve cash flow

Question 10

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

Accepted Answer

Labour Intensive

Question 11

Identify two possible marketing objectives

Accepted Answer

Building brand loyalty, Increasing growth in the market

Question 12

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

Accepted Answer

niche

Question 13

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

Accepted Answer

e-commerce

Question 14

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

Accepted Answer

False

Question 15

Net cash flow is calculated by:

Accepted Answer

Cash Inflows- Cash Outflows

Question 16

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

Accepted Answer

The supply chain

Question 17

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

Accepted Answer

20%

Question 18

Identify two ways of measuring the size of the market.

Accepted Answer

No of products sold, Sales Value

Question 19

Identify one source of secondary data.

Accepted Answer

ONS Survey

Question 20

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

Accepted Answer

£420,000

Question 21

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 22

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

Accepted Answer

targeting

Question 23

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

Accepted Answer

Add Value

Question 24

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 25

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

Accepted Answer

Product, Price

Question 26

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

Accepted Answer

£2,000 adverse

Question 27

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

Accepted Answer

elastic

Question 28

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

Accepted Answer

Product Portfolio

Question 29

Which of the following is an operational objective.

Accepted Answer

To reduce waiting times

Question 30

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

Accepted Answer

Price Skimming

Question 31

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

Accepted Answer

Star

AS Business Revision

Questions 32

AS Business Revision

Questions 32