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VCE Business Management Unit 1 AOS 1 Revision Quiz Flashcards | StudBud
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VCE Business Management Unit 1 AOS 1 Revision Quiz
VCE Business Management Unit 1 AOS 1 Revision Quiz
16 terms
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#VCE #businessmanagement #revision #planningabusiness
Flashcards
16 cards
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Questions
16
Answers
1
Which of the following gives free and automatic protection of original works?
Domain name
Design rights
Trademark
Copyright
2
‘Who will buy the product?’ & ‘who are the competitors?’ would be asked as part of:
Market research
Risk assessment
Research and development
Feasibility studies
3
Patent and copyright are two ways of protecting:
Your business opportunity
Your intellectual property
Your innovation
Your research and development
4
Which type of goal responds to community needs or environmental needs?
Financial goal
Social goal
Personal goal
SMART goal
5
A domain name is:
A unique internet address
The name of the domain the company belongs to
The name of a product they sell
The name of a company
6
An entrepreneur is:
A person who seizes opportunities to start a business
Likely to have the same characteristics as business managers
Likely to only make very calculated decisions
Any person who has just started a successful business
7
Which of the following is NOT likely to be characteristics of a successful entrepreneur?
Willing to take risks
Able to take the first steps toward starting a business
Not like taking risks
Seizes opportunities in the hopes of making a profit
8
Which of the following is NOT an advantage of operating in a global market?
Increased opportunities to expand and grow a business
Reduced dependency on local markets
Having access to a wider range of customers
Selling a product in a country that has no market for it
9
A business concept is developed when a prospective business owner:
Identifies a market need
Protects their intellectual property via a trademark
Identifies a business opportunity
Starts turning a business opportunity into a business
10
‘Global market’ refers to:
Goods & services are exchanged across the world
Being able to purchase products from overseas
All of the above
That businesses have to compete internationally
11
An assessment of the business idea’s potential for success is called:
Market opportunity
Market research
Feasibility research
Feasibility study
12
Which of the following are the correct components of SMART goals?
Sensible, measurable, applicable, reasonable, time-bound
Specific, measurable, applicable, reasonable, time-bound
Sensible, measurable, attainable, relevant, time-bound
Specific, measurable, attainable, relevant, time-bound
13
Kate wants to make a profit of $500 in one week. What kind of goal has Kate set?
Specific
Financial
Personal
Social
14
The desire to fulfil a market need is:
The hope that you will earn money by being self-employed
The freedom to choose when and where you work
Identifying a gap in the market and wanting to fill it
Being able to provide employment to the local community
15
Innovation refers to:
Meeting a social need
Creating something new or significantly improved
None of the above
Meeting a market need
16
Which of the following does a patent protect?
Original works of art
Web domains
A device, method or process
Colours, shapes and sounds
