Which of these is a benefit to a business of using job production?

You can often charge a higher price

Which of the following best describes 'exchange rate'?

The price at which one currency can be traded for another

Which of the following statements is covered by the Equality Act 2010?

A person's disability should not affect their likelihood of getting a job

The 4 factors of production?

Land, labour, capital, enterprise

Which of these best describes logistics?

Getting goods and services from one part of the supply chain to another

Which of the following groups will benefit most from high interest rates?

Banks that lend money to businesses

Which of the following is a form of post sales service?

Training customers in how to use the product

Which of these is a benefit of delegation?

Managers can pass tasks on to supervisors

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AQA Business Paper 1 Revision

25 termsStudBud Administration502 plays

A Quiz! used during mock revision for Year 11 Business students - Paper 1 mock exam

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Questions 25

Answers

1
'When a company pays another firm to carry out tasks that it could do itself'
Franchising
Selling out
Outsourcing
Co-opting
2
Which of these is a benefit to a business of using job production?
Work takes longer to complete
You can often charge a higher price
There is more competition
The quality is higher
3
The training done when someone first starts a job
Off the job
Induction
On the job
Apprenticeship
4
Selling price is £5, units sold are 100 and costs are £200. Calculate revenue.
£500
£300
£700
£200
5
Which of these is not a main section in a business plan?
Human Resources
Marketing
Profit and loss
Executive summary
6
Which of these is not an internal stakeholder?
Customers
Owners
Employees
Manager
7
Which of the following best describes 'exchange rate'?
The price at which products are sold
The rate at which goods are exchanged between countries
The rate at which one country imports products from another
The price at which one currency can be traded for another
8
If a business can buy in bulk and therefore get a cheaper price, what is this called?
Technical economies of scale
Management economies of scale
Marketing economies of scale
Purchasing economies of scale
9
'The cost of the next best alternative'
Risk
Cost of sales
Opportunity cost
Variable cost
10
Which of these is not a leadership style?
Autocratic
Paternalistic
Democratic
Egalitarian
11
Which comes first?
Advertise
Identify a vacancy
Interviews
Write a job description
12
How do you calculate total costs?
Revenue - fixed costs
Fixed costs + variable costs
Sales + variable costs
Fixed costs - variable costs
13
Are you going to ace your mock?!
No
Yes
14
Which of the following statements is covered by the Equality Act 2010?
All employees should earn at least the national living wage
A person's disability should not affect their likelihood of getting a job
Recruitment should not discriminate against people based on their ability
The job a person has shoudn't affect how much they earn
15
The 4 factors of production?
Land, labour, capital, enterprise
Enterprise, skills, profit, capital
Land, labour, machinery, location
Factory, money, skills, land
16
Which of these best describes logistics?
Getting goods and services from one part of the supply chain to another
Making sure everyone takes responsibility for the quality of their work
Finding and buying things that a firm needs from suppliers outside the firm
Making sure you use a few resources as possible and create less waste
17
Which of the following groups will benefit most from high interest rates?
Banks that lend money to businesses
People with mortgages
Customers who want to buy products
Small businesses have borrowed money
18
Which of these is not a reason for an entrepreneur to start up a new business?
To provide for a gap in the market
To have less stress
To turn a hobby into a career
To improve their work / life balance
19
Which of these is not a fixed cost
Stock
Salaries
Rent
Insurance
20
Which of the following is a form of post sales service?
Getting the contact details of potential customers
Giving customers information on the product they are interested in
Training customers in how to use the product
Calling customers to find out if they are interested in a product
21
Selling price is £6, units sold are 200 and costs are £200. Calculate profit.
£1400
£1000
£1200
£800
22
Which of these is a benefit of delegation?
Managers can pass tasks on to supervisors
People in the top layer of the hierarchy don't have many responsibilities
Operatives are given no responsibility
Directors have responsibility for all the tasks
23
When a business aims to use a few resources as possible and minimise waste
Buffer stock
JIT
Lean production
Kaizen
24
If a business grows by selling more and increasing their profit, this is called?.....
Sales growth
Organic growth
Maturity growth
Natural growth
25
'The number of people for who you are directly responsible'
Chain of command
Line of delegation
Span of control
Factor of management

AQA Business Paper 1 Revision Flashcards | StudBud