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