MCQ - Enterprise and Marketing Concepts

Question 1

Which of the following is a benefit of using ‘desk research’?

Accepted Answer

The cost of accessing information is usually low

Question 2

What is the name given to the share of profits paid by a franchisee to a franchisor each year?

Accepted Answer

Royalties

Question 3

What functional area of a bus is responsible for developing new products to meet customer needs

Accepted Answer

Marketing

Question 4

What is a variable cost?

Accepted Answer

a cost that changes with output

Question 5

Which of the following is a fixed cost for a shoe retailer?

Accepted Answer

Insurance for the shop premises

Question 6

Which letter on the diagram above shows the break-even point for the product?

Accepted Answer

C

Question 7

Which of the following is a legal external factor which could affect product development?

Accepted Answer

Copyright Challenge

Question 8

What does line X represent on the break-even graph?

Accepted Answer

Total Costs

Question 9

Which of the following is a method which a customer may use to give feedback to a business?

Accepted Answer

Customer comment card

Question 10

If total revenue is equal to total cost, a business will

Accepted Answer

Break-even

Question 11

Which functional area is responsible for monitoring cash flow?

Accepted Answer

Finance

Question 12

Which of the following is an example to 'add value' to a product?

Accepted Answer

Improve the specification of the product

Question 13

Which of the following is a word which describes a growing economy?

Accepted Answer

Boom

Question 14

A business aims to BE during 1y. Which part of the bus plan is most likely to include this?

Accepted Answer

Business objectives

Question 15

Which of these sources of capital usually involves individuals contributing by buying equity?

Accepted Answer

Crowdfunding

Question 16

Which of the following is an example of a variable cost for a coffee shop?

Accepted Answer

Milk

Question 17

Which one of the following is an external factor that could impact on product development?

Accepted Answer

New Legislation

Question 18

Which of these is a disadvantage to becoming a franchisee?

Accepted Answer

Royalty payments have to be paid to the franchisor

Questions 18