AICE Business AS Level Paper 2 Study Assessment

Question 1

__ how much the dollar is worth compared to another country's currency

Accepted Answer

Exchange rate

Question 2

______ is the difference between the amount earned and the amount spent

Accepted Answer

Profit

Question 3

What is the difference between ethnic and ethical?

Accepted Answer

One is the cultural impacts, the other is a moral decision

Question 4

What type of curve is this?

Accepted Answer

Demand

Question 5

_ is any person, company or other institution that owns at least one share of a company's stock

Accepted Answer

Shareholder

Question 6

In a business cycle, during a downturn or recession what happens?

Accepted Answer

The effect of falling demand and higher interest rates falls

Question 7

How are Social Enterprises differ from Non-Profit Organizations?

Accepted Answer

Social Enterprise maximize profits for external shareholders

Question 8

What term can best explain the issues "KFC branches in UK forced to close"

Accepted Answer

Buffer Stock

Question 9

What are the five P's of marketing?

Accepted Answer

Product, Price, People, Place, Promotion

Question 10

Which is not one of McGregor's Leadership Styles

Accepted Answer

Dictatorship

Question 11

What is an example of opportunity cost?

Accepted Answer

Going public instead of remaining a private company?, Saving for college instead of spending for short term gains

Question 12

The acronym KAAE stands for?

Accepted Answer

Knowledge, Application, Analysis, Evaluation

Question 13

___ is receiving a wage based on the quantity of output and the degree of difficulty of the job

Accepted Answer

work study

Question 14

What formula is this?

Accepted Answer

Market shares

Question 15

Which classification of business activity includes dealing with retailing, banking, etc...?

Accepted Answer

Tertiary sector

Question 16

_______ an amount that has to be paid or spent to buy or obtain something

Accepted Answer

Cost

Question 17

What are factors of production?

Accepted Answer

capital, land, labor, enterprise

Question 18

Which assessment objective requires the student to make a "reasoned judgement"?

Accepted Answer

Evaluation

Question 19

What is the difference between liquidation and bankruptcy?

Accepted Answer

Liquidation: a firm assets are sold for cash to pay debt, Liquidation: a firm distributes its assets to claimants, Liquidation: when a company is insolvent, Bankruptcy: a business is relieved of its debt obligations

Question 20

What is a private limited company?

Accepted Answer

A small to medium-sized business owned by shareholders

AICE Business AS Level Paper 2 Study Assessment

Questions 20

AICE Business AS Level Paper 2 Study Assessment

Questions 20