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Business studies unit 1 revision Flashcards | StudBud
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Business studies unit 1 revision
Business studies unit 1 revision
15 terms
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To help me and other people enjoy revision for business studies through a quiz!
Flashcards
15 cards
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Questions
15
Answers
1
One of the aims of promotion is, to maintain or increase sales.
True
False
2
Profit is the difference between revenue and costs.
True
False
3
What are the 4p's in the marketing mix?
promotion, price, place, product
procurement, partnership, plan, productvity
penetration pricing, productivity, physical distribution, plan
procurement, price, place, product
4
What is market research?
To inform customers about a product.
The different types of work that needs to be done within a business.
The collection of data to to help make business decisions.
Finding the needs of the consumer.
5
original / change x 100 is the equation for percentage change.
False
True
6
What is an disadvantage of physical distribution?
not all goods are suitable for physical distribution
it creates more jobs for people
increases the transport costs
employees have to do more work.
7
What is a sleeping partner?
Two business coming together with no connection.
An owner of a limited company.
Someone who only invests in a partnership.
Someone with an interest in a business.
8
What are the FOUR types of communication?
written, digital, informal, formal
physical, digital, written, verbal
written, verbal, formal, informal
physical, formal, informal, verbal
9
When selling through wholesalers, what is the THIRD stage the product goes too?
customer
retailer
wholesaler
producer
10
What is this, A price set lower than competitors prices.
competitor pricing
skimming
penetration pricing
cost-plus pricing
11
What is an example of point of sale promotion?
loss leaders
competitors
price reductions
free samples
12
What is induction training?
Training while on the job.
training focused on a worker reaching their full potential.
training when away from the job.
training to introduce the employees to the business.
13
What year was the Equality Act?
1999
2014
2004
2010
14
What company have unlimited liability?
partnership, sole trader
public limited company, private limited company
sole trader, private limited company
partnership, public limited company
15
What is one of the roles of the human resource department?
To recruit new employees.
To train new or existing employees.
To transfer information around the business.
Pay for all the finances of the business.
