A feature of batch production is that it...

Is more efficient than Job production

A method to improve cash flow could be...

Decrease trade credit period offered to customers

The marketing mix includes . . .

Product, price, place, promotion

Which of these best describes a social enterprise?

Their main aim is to benefit society

Internal sources of finance include

selling assets, profits and owners funds

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Business revision Unit 1

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A revision quiz for Unit 1 of the AQA specification for GCSE business studies. #business #revision

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Questions 25

Answers

1
A feature of batch production is that it...
Is more expensive than job production
Is more efficient than Job production
Is slower than job production
Requires more training than job production
2
A method to improve cash flow could be...
Decrease trade credit period offered to customers
Increase trade credit for suppliers
Increase loan repayments
Increase trade credit offered to customers
3
The marketing mix includes . . .
Price, plaques, place, price
Product, promotion, planets, parsley
Product, price, place, promotion
Product, production, place, promotion
4
Promotion is more effective when it is
online
expensive
local
targeted
5
A benefit of employing a part time worker is that...
They are more flexible
They are better trained
They are more motivated
6
Sales revenue is calculated by
sales - price
sales x price
quantity x sales
sales - costs
7
At the heart of any marketing mix is . . .
Making a profit
Market research
Passion and drive
Target audience
8
A sole trader is...
Incorporated
Not-for-profit
Unincorporated
A large business
9
Identifying, anticipating and satisfying customer needs is
the definition of marketing
something that costs very little
market research
a waste of time
10
It describes the attributes required for the successful fulfillment of the role
Curriculum Vitae
Person specification
Covering letter
Job description
11
A disadvantage of an overdraft is that...
It is long term
It has high interest payments
It has low interest payments
It is easy to get
12
An example of primary research is...
Internet research
Focus group
Census data
Mintel
13
A law which protects both employees and customers is...
Minimum wage
Sale of goods Act
Health and Safety law
Consumer Protection
14
Total receipts - total payments =
net cash flow
total cash
total cash flow
opening balance
15
Revenue - costs is the calculation for...
Revenue
Profit
Cash flow
Costs
16
Job production is
time consuming and expensive
poor quality
quick to produce
17
A disadvantage of a bank loan is
They take a long time to arrange
Changing interest rates
Paying interest
Fixed payments
18
Which of these best describes a social enterprise?
Their main aim is to benefit society
They make a profit
They are a charity
They do not make a profit
19
Which of these is the most common objective for a new business?
Profit maximisation
Increase sales
Survival
Expansion
20
What best describes the situation where the owner and the business are legally the same?
partnership
limited liability
unlimited liability
shareholders
21
A partnership has how many owners?
2-20
2
2-3
2-13
22
A feature of job production is...
Lots of products are produced
The product is bespoke
Workers are often unskilled
It is cheap
23
The most simple from of business ownership is . . .
Ltd.
Plc,
Sole trader
Partnership
24
Internal sources of finance include
hire purchase and retained profits
selling assets, profits and owners funds
shares and selling assets
bank loans, friends and family
25
'Competitive advantage' gives you
The edge over competitors
Means you have more market share
More competition in the market

Business revision Unit 1 Flashcards | StudBud