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A Level Business Revision Flashcards | StudBud
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A Level Business Revision
A Level Business Revision
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StudBud Administration
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Revision lesson with A Level Business class
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Two products that might be price inelastic are
Petrol
Carbonated drinks
Chewing gum
Cigarettes
2
What is a variance?
The difference between actual and budgeted outcomes
A firm's planned sales
Quantitative information based on the past
A system of budgeting
3
Which of these is an internal stakeholder?
Business owners
Government
Creditors
Suppliers
4
Which of these is NOT one of Porter's 5 forces
Bargaining power of suppliers
Strength of marketing activity
Rivalry among existing firms
Threat of new entrants
5
Which of these are associated with Critical Path Analysis
Probability
Latest start time
Earliest finish time
Total float
6
Demand is income elastic when
the % change in demand > % change in income
the % change in demand < % change in income
7
Who sets the interest rate in the UK?
The Bank of England
The Queen
Phillip Hammond
Mark Carney
8
What is the current base interest rate in the UK?
0.25%
0.75%
0.5%
0.2%
9
An advantage of batch production is
Less motivation because workers specialise
Unit costs are lower because output is higher
High labour costs due to skilled workers
Money may be tied up in work in progress
10
A monopoly is
A firm selling board games
A market dominated by a single business
A firm selling one product
A market dominated by a few large businesses
11
Employee needs might include
Chances for promotion
Fair remuneration
Free tea and coffee
Company car
12
Which of these is NOT an internal source of finance?
Sale of assets
Business angel
Owners' capital
Retained profit
13
An overdraft is
An agreement with the bank to spend more money than you have
A long term loan to a business
Capital that is never repaid by the company
The profit from selling a share for more than it was bought
14
Which of these is the best definition of decentralisation?
Decision making is pushed down the chain of command
Authority passes from superior to subordinate
Removing layers of management from the organisation
Decision making takes place at the core of the organisation
15
A subordinate is
Someone who works with numbers
Someone who takes orders from the MD
Someone who orders the stationery
Someone who works under the control of a senior worker
16
Job enrichment involves
Moving an employee to a different job/task
Giving an employee more work to do of a similar nature
Giving employees more money
Giving employees greater responsibility and recognition
17
Who is this iconic entrepreneur?
Martha Lane Fox
Theresa May
Cath Kidston
Dame Anita Roddick
18
What method of pay might Taylor use to motivate staff?
Piece rate
Bonus
Pie rate
Annual salary
19
Which of these is a trait of an effective leader?
Unassuming
Ability to motivate others
Ability to own a yacht
Self-centred
20
Which of these does not feature in the Boston Matrix?
Shooting Star
Dog
Question Mark
Cash Cow
21
Which of these is NOT a PESTLE factor
Technological
Environmental
Economic
Ecological
22
Which of these is not a type of internal economies of scale?
Risk-bearing
Labour
Technical
Purchasing
23
Net cash flow is
The prediction of all expected receipts and payments
The difference between money flowing in and out
The flow of money out of a business
The flow of money into a business
24
On the job training might include
Working overtime
Going to college
Doing an MBA
Job rotation
25
A boom is
The fall in value of a currency
The peak of the economic cycle
A rise in prices
A loud noise
