CTEC Unit 1 - The Business Environment combined

Question 1

One example of a fixed cost in a pet shop would be:

Accepted Answer

overheads

Question 2

Third sector business will not have the following aim:

Accepted Answer

profit

Question 3

Legislation to protect how many hours an employee works is called:

Accepted Answer

Working Time Directive

Question 4

"Flat structures do not have issues communicating"

Accepted Answer

False

Question 5

Interest rates in the UK rise. A UK manufacturer might be affected by this because:

Accepted Answer

borrowing money will be more expensive

Question 6

In the acronym SWOT, which of the following are internal factors a business can consider?

Accepted Answer

Strengths and Weaknesses

Question 7

Which of the following is NOT an example of an external factor?

Accepted Answer

Hierarchical

Question 8

An overdraft is:

Accepted Answer

a short term, external source of finance

Question 9

Which sector would Oxfam belong to?

Accepted Answer

Third

Question 10

Which of the following functional areas is responsible for recruiting new staff?

Accepted Answer

Human Resources

Question 11

Trade unions help employees by:

Accepted Answer

all of the above

Question 12

Which of the following is a short term source of finance?

Accepted Answer

overdraft

Question 13

An example of an internal stakeholder is:

Accepted Answer

employee

Question 14

Which of the following describes the functions of a customer service department in a hospital?

Accepted Answer

It deals with patient complaints

Question 15

The Data Protection Act protects personal data by:

Accepted Answer

using data fairly and lawfully

Question 16

Which of the following is a barrier to growth for a business wanting to grow?

Accepted Answer

all of the above

Question 17

Which of the following is not a source of finance available to a sole trader?

Accepted Answer

Share issue

Question 18

Which of the following stakeholder groups is most interested in a company’s level of dividend?

Accepted Answer

Shareholders

Question 19

Trade unions are usually free to join:

Accepted Answer

False

Question 20

Which of the following is not an economic factor?

Accepted Answer

level of consumers' disposable income

Question 21

Depreciation means:

Accepted Answer

losing value over time

Question 22

Businesses with unlimited liability are:

Accepted Answer

partnerships, sole traders

Question 23

Paying above the minimum wage is an example of:

Accepted Answer

being an ethical employer

Question 24

A change in the government of a country is most likely to lead to:

Accepted Answer

increased business uncertainty

Question 25

Which of the following is an example of ethical working practice?

Accepted Answer

offering maternity pay

Question 26

Which type of business activity is concerned with the extraction of raw materials?

Accepted Answer

Primary

Question 27

Which of the following is not an external source of finance?

Accepted Answer

Retained Profits

Question 28

Which of the following is the correct definition of the term ‘margin of safety’?

Accepted Answer

The amount by which output can fall before a loss is made

Question 29

A community interest company is also known as:

Accepted Answer

social enterprise

Question 30

Centralised decision making means that everyone has a say in what happens

Accepted Answer

False

Question 31

A hierarchical organisational structure has:

Accepted Answer

many tiers of responsibility

Question 32

The formula for total revenue is:

Accepted Answer

selling price x quantity sold

Question 33

A supervisor’s immediate superior is most likely to be:

Accepted Answer

a manager

CTEC Unit 1 - The Business Environment combined

Questions 33

CTEC Unit 1 - The Business Environment combined

Questions 33