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Understanding Business (Seniors)
Understanding Business (Seniors)
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Unit 1 revision Higher / Nat 5.
Flashcards
44 cards
F
Practice quiz
P
Host live
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Questions
44
Answers
1
Which of these is NOT an objective of a charity?
Relieve homelessness
Medical research
Relieve poverty
Profit maximisation
2
What is an advantage of using matrix structures?
Faster decision making
Multiskilling
Slower decision making
Promotion prospects
3
Which of these is an INTERNAL factor affecting the business?
Seasonality
Change in the law
Unemployment
Ability of employees
4
Which type of business conducts minimal market research?
Market Led
Product Led
Charity
Social Enterprise
5
Mars planets, Mars eggs & Mars hot choc are all examples of what?
Rebranding
Dogs
Bonus packs
Line extensions
6
Which into-the-pipeline promo reduces the risk of obsoletion?
Sale or Return
Discounts
Trade Credit
Dealer Loader
7
If you were in Gregg's and you decided to treat your favourite teacher...
French Fancy
Rocky Road
Yum Yum
Pineapple Tart
8
How many partners can there be in a Partnership?
Any
2-20
2-10
1-5
9
John Lewis, Debenhams, HoF…all which type of retailer?
Discount Store
Department Store
Hypermarket
OOT Shopping Centre
10
Increase in the National Minimum Wage law is an example of...
Economic factor
Political factor
Competitive factor
Social factor
11
Which sector of industry involves manufacturing and production of goods?
Quarternary
Secondary
Primary
Tertiary
12
Which type of market research is more cost effective?
Field Research
Desk Research
13
Which stakeholder group may conflict with the business owner over pay and conditions?
Employees
Bank
Suppliers
Local Community
14
True or False - shareholders in a PLC have unlimited liability?
True
False
15
Fashion trends, product popularity and changes in lifestyle apply to...
Social factors
Technological factors
Environmental factors
Competitive factors
16
Odd one out - which of these does NOT help instil corporate culture?
Matrix Structures
Employee of the Month Schemes
Using Logos
Uniforms
17
When the government takes over a private sector firm like Royal Mail, what is this called?
Bootlegging
Nationalisation
Privatisation
Profiteering
18
Which pricing strategy is used for goods like Xbox, iPhone, new TV's...
Skimming
Penetration Pricing
Destroyer
Price Discrimination
19
The group of people targeted for a consumer survey is known as what?
Stakeholders
Customers
Field Research
Sample
20
Which stakeholder group may clash with the business owner over delivery times or credit terms?
Bank
Suppliers
Local Community
Pressure Groups
21
Which out-of-the-pipeline promo helps track consumer behaviour?
Loyalty Cards / Schemes
Free Gifts
Competitions
Yum Yums
22
Which stakeholder exerts influence by setting legislation and taxation rates?
Bank
Managers
Government
Pressure Group
23
Which direct selling method can involve door-to-door sales?
TV shopping
Mail Order
E-Commerce
Personal Selling
24
Which stakeholder group is interested in good dividends?
Managers
Employees
Suppliers
Shareholders
25
Who controls a PLC?
Employees
Shareholders
Board of Directors
Managers
26
If you were in Tesco and decided to treat your favourite teacher...
Double Decker
Minstrels
Wine Gums
Snickers
27
Which of the following is NOT an economic issue?
Pricing
Inflation
Foreign Exchange Rate
Recession
28
Franchisees must make payments to the franchiser known as what?
Dividends
Loyalties
Royalties
Supplements
29
Which Boston Matrix category has high market share but low growth?
Question Marks
Stars
Cash Cows
Dogs
30
Making the buying process smoother and more efficient for customers is known as what?
EPOS
The Marketing Mix
Physical Evidence
Streamlining
31
Odd one out - these are crucial to all businesses...
Social responsibility
Customer satisfaction
Environmental responsibility
Profit maximisation
32
When rival businesses collude to fix prices and control supply this is known as what?
A Merger
Horizontal Integration
A Cartel
A Monopoly
33
Which type of structure means faster communication but a wider span of control for managers?
Decentralised
Tall
Flat
Centralised
34
Odd one out - a business may exist to...
Provide a service
Due to recession
Fill a gap in the market
Make a profit
35
How are public sector organisations funded?
Sales
Taxation
Advertising
Profits
36
Which PR method allows the business to avoid challenging questions?
Press Conference
Product Placement
Press Release
Company visit / tour
37
Which of the following methods is especially useful for food/drinks goods?
Online Survey
Personal Interview
Hall test
Telephone Survey
38
This type of organisational structure is used for project work...
Matrix
Tall
Flat
Centralised
39
Which one does not belong in the private sector?
Pretty Green
Sports Direct
BBC
Starbucks
40
What legislation exists to prevent the existence of a monopoly?
Business Gateway
Competition Policy
Social Enterprise
Merger Lobby
41
PLC - which stage will costs to the business be highest?
Saturation
Introduction
Growth
Decline
42
Which is NOT an objective in the public sector?
Social Responsibility
Stick within budget
Provide a service
Survival
43
Business owners will depend on who for favourable business tax rates?
Entrepreneurs
Government
Banks
Business Angels
44
Enabling sales via a business Instagram account is known as what?
EPOS
E-commerce
Direct Mail
S-commerce
