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Year 7 Business Quiz 2022 Flashcards | StudBud
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Year 7 Business Quiz 2022
Year 7 Business Quiz 2022
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Questions
30
Answers
1
Education and training is one of the most imporant aspects of having a successful business.
False
True
2
A start-up business is one with a large national and international presence and earns large amounts of income.
True
False
3
In 1982, Colgate Toothpaste released a beef lasagne product. This product was a huge success with their target market.
False
True
4
Mr D's Diner uses premium ingredients, sells on weekends and charges high. How can he improve his profit margins?
Charge the customer less.
Sell during the week.
All of the above.
Use cheaper alternatives where appropriate.
5
Lucy asks helpful questions & thinks outside the box. Bob waits for a problem to happen. Who's a better problem solver?
Bob
Both
Lucy
Neither
6
What does it mean to show initiative in the workplace?
To fight and argue your way to the top of the business heirarchy.
To silently reflect and continue to do the same job, even with mistakes.
To ignore what others are doing and start a new program by yourself.
To take charge and lead a new project and idea that helps the company.
7
What are two effective ways to promote efficient teamwork in the workplace?
Micro-managing all departments to ensure that there are no mistakes at all.
Team outings and activities to socialise amongst employees.
Opportunties for collaboration at team meetings to share ideas.
Bowling alley, mini-golf, free food, zoo animals etc.
8
What is one of the most effective ways to promote confidence and agency in employees?
Long meetings with Human Resources for every single mistake.
Positive reinforcement and consistent support.
Battle royale with all employees to see who comes out on top.
Survival of the fittest. Those who are not confident won't survive.
9
What is the definition of a consumer in the financial market?
A consumer is always a direct customer of specific services being offered.
A consumer often refers to those who consume or use market goods.
A consumer refers to anything that requires a purchased object or service.
Only the customer who purchases a physical object.
10
What is critical thinking and why is it important to business?
To break down all aspects of a business into functioning sections.
To think like a robot and have answers for everything.
Ability to interpret information and repeat it exactly the same.
Ability to ask good questions that can be reflected on and used in future.
11
Which two are some of the most important reasons for effective communication in the workplace?
To respectfully discuss topics and ensure that all voices are heard.
To avoid getting in trouble.
To share wicked stories from the weekend with your colleagues.
To share and express thoughts and opinions with you colleagues.
12
Why do businesses need to know their market before selling their product?
To ensure that they are meeting sales targets.
To make sure that staff enjoy what they are selling.
To give the customer exactly what they want.
To meet the necessary requirements of the government.
13
Why is learning a critical part of any workplace?
So that they can learn quickly and move up positions in the company.
It is a requirement by the government for all employees to learn.
To sort those who are motivated and fire those who aren't.
To ensure that employees are constantly learning and improving.
14
Which definition best describes the term 'financial capability'
Devising ways to deceive the market and make a profit.
A digital tool used to measure a companies expected profits.
A term used to generally describe the movement of the financial market.
Awareness of the thinking and feeling that drives a businesses finances.
15
Global citizenship is the idea of being globally aware and making positive positive changes gloablly and locally
False
True
16
Investments are exclusively for people who have retired from the workforce.
True
False
17
In 2017, Samsung released the Galaxy Note 7 that had a tendency to blow up. What should have Samsung done better?
Not rush the product into production and be sure to test before release.
Move the product onto shelves even faster than they did.
Not take any responsibility for the fault.
Cancel the phone's production all together.
18
Which inquiry question would be more effective when creating a shark-tank pitch in the future?
What resources, funding and supplies will I need to be successful?
How do I do business?
What are some ways I can make money easily and quickly?
How do we ensure that our staff morale remains high?
19
Which one of the following is a direct source of income?
Owning a Business
Trading of goods
Self-sufficient living
Insurance
20
What is the role of a consultant for Businesses?
A group of professionals that focus purely on marketing a company.
A person that is hired to completely take over the company to save it.
Usually another person/company that offers suggestions for improvements.
A person who cleans up the messes of other companies by hand.
21
A full-time employee typically works around five days a week and is set an annual salary.
True
False
22
Mrs Edgeworth offers her employees a set time every week to collaborate. What skill best describes this strategy?
Digital Literacy
Teamwork
Global Citizenship
Critical Thinking
23
Mcdonald's famously created the McHotDog in the 1990's that didn't sell well. What skill is this an example of?
Enthusiasm for Learning
Creativity & Innovation
Problem-solving
Critical Thinking
24
Which one of the following is not typically a reason that people choose to work in traditional full-time jobs.
Money
Socialise
Learning new skills
Chasing personal business goals
25
What does the term 'trend' mean?
Guidelines for business
Measurement of finances
Movement of workers
Patterns in data
26
Which of the following is not an example of supporting staff morale?
Team meetings
Anything on a need-to-know basis
Individual Development plans
Relaxation stations
27
How many months is in a 'financial quarter'?
1
3
4
2
28
Volunteer work usually results in the employee being paid for their services.
False
True
29
A relationship in data refers to two seperate pieces of information with no connection.
False
True
30
What is the definition of a producer in the financial market?
A person responsible for the financial and managerial aspcts of film making
An organism that produces organic compounds from simple substances.
A person, company or country that makes or supplies goods and services.
An influencer on Tik Tok that produces their own content.
