Price skimming is........

This is setting a high price when a product is launched

Why might a sole trader choose to take a partner into the business?

So that there will be additional skills and expertise

What does SWOT analysis stand for in business

Strengths, Weaknesses, Opportunities, Threats

What is a 'market segment' in business terms

A group of similar customers within a larger market

What is meant by the term E-Commerce?

The buying and selling of products over the internet

Why is the choice of location important for a business?

It impacts the cost of production and access to customers

Which of the following is an example of quantitative market research?

Figures showing the sales of a product

What distinguishes qualitative research from quantitative research in business studies?

Opinions/behaviors vs. statistical data

Who are stakeholders in a business?

Anyone who is affected by or can affect the business

Competitive Pricing is........

Setting the price so that it is in line with competitors’ prices

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Year 9 AQA GCSE Revision Quiz

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Questions 22

Answers

1
Price skimming is........
Selling below cost price to attract more custom
Fixing a low price when a new product is first introduced
Setting the price so that it is in line with competitors’ prices
This is setting a high price when a product is launched
2
Why might a sole trader choose to take a partner into the business?
So that the profits will be shared with someone else
So that he can give a job to a friend
So that there will be additional skills and expertise
So that shares can be sold
3
What does SWOT analysis stand for in business
Strengths, Weaknesses, Opportunities, Threats
Structure, Workforce, Output, Trends
Size, Wealth, Objectives, Tactics
Sales, Workers, Objectives, Targets
4
What is a 'market segment' in business terms
The area where a market is located
A segment of time within which sales occur
A group of similar customers within a larger market
A small shop in a local market
5
Which of the following is an external factor affecting businesses?
Suppliers
Competitors
Technology
Employees
6
What is meant by the term E-Commerce?
The trade between different countries
The buying and selling of products over the internet
The exchange of goods or services for other goods or services
The physical store location of a business
7
Which of these are an advantage of being a sole trader?
Shared ideas
easy yo make money
Keep all profits yourself
Limited liability
8
Which of the following is an example of qualitative data?
Market growth of a product
Customer opinions on a product
Number of customers
Percentage change in net profit
9
Why is the choice of location important for a business?
It determines the business's legal structure
It ensures high profit margins
It directly affects the tax rates
It impacts the cost of production and access to customers
10
Which of the following is a possible drawback of ethical behaviour for a business?
Higher cost of supplies
Higher sales revenue
Unlimited liability
Low employee motivation
11
Which of the following characteristics of an entrepreneur is the ability to develop new ideas/products?
Innovative
Hard working
Determined
Organised
12
Which of the following is an example of quantitative market research?
Personal views on the packaging of a product
Consumers’ individual opinions about the tastes of a product
A magazine article reviewing a new product
Figures showing the sales of a product
13
A shoe shop is in which sector?
Primary
Tertiary
All 3
Secondary
14
What distinguishes qualitative research from quantitative research in business studies?
Opinions/behaviors vs. statistical data
Surveys vs. interviews
Uses opinions/behaviors vs. numerical data
Market analysis vs. product development
15
Which of the following is a factor of production?
Specialisation
Land
Opportunity cost
Profit
16
Which of the following is a method of secondary market research?
Focus group
Internet research
Interview
Questionnaire
17
Which of the following is true for a public limited company?
It does not have profit as an objective.
It is owned by the government.
It can issue shares.
Its owner(s) have unlimited liability.
18
Which of the following is one of the four factors of production?
Growth
Competitors
Quality
Enterprise
19
Which type of business ownership has limited liability?
Private limited company
Sole trader
A School
Partnership
20
Who are stakeholders in a business?
Only the employees
Only the customers
Only the shareholders
Anyone who is affected by or can affect the business
21
Competitive Pricing is........
Fixing a low price when a new product is first introduced
Selling below cost price to attract more custom
Setting the price so that it is in line with competitors’ prices
this is setting a high price when a product is launched
22
Which of the following is a financial method of motivation?
Commission
Training
Job share
Greater responsibility

Year 9 AQA GCSE Revision Quiz Flashcards | StudBud