Identifying and satisfying consumer wants

What is a sole trader?

A person who owns 100% of a business

What the business wants to achieve long term

Why is it important for small businesses to prepare a business plan?

To have a clear aim for the future

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R061

18 termsStudBud Administration208 plays

A Quiz for the different types of business etc..

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Questions 18

Answers

1
What is marketing?
Identifying and satisfying consumer wants
About making sure all packaging is environmentally friendly
Only about advertising on the television
2
Sir Richard Branson started selling products as a....
Partnership
Private Limited Company
Public Limited Company
Sole trader
3
What does the R in SMART stand for?
Realistic
Rightful
Reorganise
Reachable
4
Donald Trump has what kind of business
Ltd
Plc
Partnership
Sole trader
5
The UK stock market is...
Nasdaq
Cac40
FTSE 100
Nikkei
6
Ben and Jerry's is a good example of.....
Private Limited Company
Sole Trader
Partnership
Public Limited Company
7
what is not a benefit of internal recruitment?
No extra paperwork
No new skills acquired
Hardly any recruitment costs
Already knows the business
8
What is a sole trader?
A person who owns 100% of a business
A store manager
A person that works for somebody else
A member of the board of directors
9
Which type sells shares mostly to family and friends?
Partnership
Sole Trader
Private Limited Company
Public Limited Company
10
What is not a good example for a new employee be needed?
To do a new job in the business
To improve efficientcy
Manager wants to have a friend
To lighten the workload on existing employees
11
What is an objective for a start up business?
Increasing profits
Expansion
12
Changing from a sole trader to an Ltd does not give...
More Flexibility
Unlimited Liability
More skills to the business
Higher level of investment
13
What is an Aim?
What the business wants to achieve long term
Steps taken to reach the goal of a business
Short term goals
14
What one would a business not spend money on
Advertising
Power
Holiday
EMployees
15
Which has Unlimited liability?
Incorporated
Unincorporated
16
What’s the difference between a PLC and LTD?
Have Employees
Control of Shares
Limited Liability
Have Shareholders
17
Why is it important for small businesses to prepare a business plan?
Want to seem like the business is going to be successful
To have a clear aim for the future
Have nothing else better to do
Want to waste time
18
What does the M in SMART stand for?
Metaphorical
Mechanical
Masterful
Measurable

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