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Paper 1 Quiz - Themes 1 and 4 Flashcards | StudBud
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Paper 1 Quiz - Themes 1 and 4
Paper 1 Quiz - Themes 1 and 4
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Theme 1 and 4 Edexcel Business A Level
Flashcards
41 cards
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Questions
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Answers
1
What is the formula for Market Share?
Actual Capacity / Maximum Capacity x 100
Sales of a Business / Total Market Sales
Sales of a Business / Total Market Sales x 100
Original Market Size / Total Market Size x 100
2
The following is a form of collective bargaining...
Redundancy
Dismissal Warning
Industrial Action
Individual Negotiation with Employer
3
What is specialisation?
production strategy looking to minimise waste.
production strategy focusing on a limited scope of products.
marketing strategy focused on the product.
marketing strategy focusing on a limited target audience.
4
Which description best describes the maturity phase of the product life cycle?
Products are withdrawn.
Heavy investment in brand awareness promotion methods.
High level of research.
Businesses start to develop extension strategies.
5
What is an advantage of operating in a Niche market?
Costs are higher.
Market Research is not required.
Market leadership is likely.
Less competition.
6
An advantage of a centralised business is...
Increased Delegation.
Allows the business to react to local customer needs.
Quicker decision making.
Empowers workers.
7
All limited companies...
Sell shares publicly.
Have unlimited liability.
Have a board of directors.
Have a sleeping partner.
8
A country with the following with be an attractive market to enter...
Economic recession
Low skilled labour
Low levels of literacy
Increasing disposable income
9
An example of below the line promotion includes...
Internet
Radio
Loyalty Cards
Television Advertisement
10
What is a sampling discrepancy?
When a research sample answers closed questions only.
When the sample is not representative of the population.
When respondents answer an online survey.
When secondary research is outdated.
11
Competition does not lead to...
Better value for customers.
Better quality product.
Less Market Research.
Powerful Advertising.
12
A market segment is...
The time and date consumers shop.
Division of people according to social class.
Part of a market where customers share characteristics.
A small group of individuals.
13
Cost is an likely to be the most important element of the design mix for...
Facebook
Nike
Apple
Primark
14
A disadvantage of franchising for the franchisor is...
Increased motivation for Franchisees.
The royalties they receive.
Poor franchisees may damage a brand's reputation.
Franchisees take on some of the financial risk.
15
A PLC is most likely to...
Benefit from economies of scale.
have owners who make the main decisions of the business.
appeal to small local market.
Have increased production costs.
16
The iPhone 8 is likely to use...
Predatory Pricing
Competitive Pricing
Price Skimming
Penetration Pricing
17
An example of a pull factor is...
Competition
Saturated Market
Risk spreading
product life cycle
18
Social pressures have resulted in the following impact on the the 4P's EXCEPT...
Press Conferences
Viral Marketing
Ethical supply chains
Emotional Branding
19
A paternalistic leader...
makes decision with workers participation.
allows employees to make their own decisions.
makes decisions without consultation.
makes decisions considering employee welfare.
20
An example of intellectual property is...
Trademarks
Copyrights
Customer Service
Patents
21
An ethnocentric approach is where an...
there are diseconomies of scale.
a combination approach with polycentric.
overseas market are seen as completely different.
overseas market is seen as identical.
22
Opportunity Cost is...
Choosing being two options.
The difference between risk and reward.
The next best alternative foregone...
A trade-off
23
Market Orientation is...
An approach which emphasises economies of scale.
An approach which emphasis external factors.
An approach which emphasises the consumer.
An approach which emphasises the production process/product.
24
Which of the following are NOT ways in which ICT can aid market research.
Social Media
Company Websites
Cloud Computing
Customer Databases
25
What is the impact of an import quota?
increases the costs of imports allowed into a country.
increased the quantity of imports allowed into a country.
increase globalisation.
limits on the quantity of imports allowed into a country.
26
What is market positioning?
a tool used for spotting a gap in the market.
extra features that increase the price of a product.
consumer perception product features compared to others.
changing the view consumers have about a product.
27
An inferior good is...
goods purchased together as they are consumed together.
goods for which demand will fall if incomes rise or fall.
goods bought as an alternative to others.
goods for which demand will rise if incomes rise of fall.
28
The following factors contribute to Globalisation except...
Reduced transport costs
Increased significance of global companies
Communism loosening in China.
Protectionism
29
A high context culture...
has explicit communication.
emphasises interpersonal relationships.
30
What does FDI stand for?
Foreign Duties Investment
Foreign Direct Investment
Foreign Direct Imports
Funding Direct Investment
31
A benefit of delaying is...
More narrow spans of control.
Increased staffing costs.
More opportunities for promotion.
Increased Delegation
32
Which of the following factors does NOT lead to a change in supply?
Advertising and branding.
Change in the cost of production.
Weather.
Government Subsidies.
33
The Human Development Index (HDI) represent...
GDP
Income, Schooling, Lifestyle
Life expectancy, Schooling, GNI
Literacy, Life expectancy, GDP
34
What is the impact of a pressure group...
Lowering company costs.
Increasing taxation.
Controlling MNCs.
Encouraging free trade.
35
A question mark in the Boston Matrix is...
Low Share, High Growth
High Share, Low Growth
Low Share, Low Growth
High Share, High Growth
36
Each of the following are trading blocs EXCEPT...
Tariffs
The EU
A preferential trading area
An Economic union
37
Market penetration involves...
Developing a product
Least risk
Entering a new market
Most risk
38
Which of the following is a NOT a dynamic market?
Home Entertainment
Mobile Phones
Automobiles
Soft Drinks
39
What would Taylor disagree with?
Piece rate pay.
Division of labour.
Extended lunch hour on a Friday.
Tight management control.
40
Demand is income elastic (%Δ in quantity demanded / %Δ in income) if...
the value is greater than 1.
the value is less than 1.
41
Which of the following are NOT features of a focus group?
Sample may be too small.
Expensive.
Primary Research.
Qualitative information gained.
