The Life cycle stages of a business include ....

Establishment, growth, Maturuty and Post maturity

Market share refers to ...

business's share of the total industry sales for a product

When considering the location of your business you need to think about ...

Proximity to customers, suppliers, visibility and cost

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Round 2 Prelim Business Studies revision

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Business Studies - Nature of Business revision

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Questions 18

Answers

1
Economic cycles contain fluctuations in the economic cycle that are known as ....
Recessions and booms
All of the above
Booms and busts
Peaks and troughs
2
The process that companies go through to become a separate legal entity to their owners.
Formation
Incorporation
Registration
Legal Liability
3
The Life cycle stages of a business include ....
Establishment, growth and maturity
Commencement, takeoff, transient and finale
Establishment, growth, Maturuty and Post maturity
Start, middle and end
4
Which industry would a scrapbooking class come under?
Quinary
Primary
Quaternary
Tertiary
5
Stakeholders may include...
Customers and suppliers
All of the above
Managers and employees
Shareholders
6
Which represent an external influence on a business?
Economic
Markets
Technological
All of the above
7
A TNC is a
Transnational Corporation
Trading National Corporation
Tasty New Croissant
Transatlantic National Company
8
What would the following be: Product, Location, Business Culture, Management
Entrepreneurship
Marketing strategies
Internal Influences
External Influences
9
What factor will NOT influence a business's competitiveness?
Ease of entry into market
Number of competitors
Business registration
Marketing strategies
10
How many shareholders does a Public company have?
Min 10, No Max
Min 1, Max 100
Min 1, No Maximum
5
11
St Patrick's College would fit into what industry?
Quinary
Quaternary
Secondary
Tertiary
12
Income include...
Dividends
All of the above
Wages
Salaries
13
Market share refers to ...
Sharing advertising with a competitor
business's share of the total industry sales for a product
How much you pay for marketing
None of the above
14
Alternative names for the growth stage of the business life cycle include ...
peak and boom
accelerate and kapow
Take-off, growth spurt
speed demon
15
All companies are incorporated enterprises.
False
True
16
When considering the location of your business you need to think about ...
Proximity to banks
Proximity to petrol stations
Proximity to marketing companies
Proximity to customers, suppliers, visibility and cost
17
A merger occurs when 2 separate businesses agree to combine resources and form a new business
False
True
18
What is strategic alliance?
All of the above
A marketing strategy
Cooperation between 2 parties or companies for similar goals
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Round 2 Prelim Business Studies revision Flashcards | StudBud