OCR GCSE Business Unit 1: Business Activity and Marketing

Question 1

Business Activity: What enterprising characteristics do entrepeneurs often have?

Accepted Answer

Confidence., Creativity.

Question 2

Business Ownership: Private Limited Companies put theses letters after their business name:

Accepted Answer

Ltd

Question 3

Marketing Mix: A new product will often be cheaper than an established brand. This is...

Accepted Answer

use of penetration pricing.

Question 4

Marketing Mix: 'Loss leaders' are...

Accepted Answer

products that make little/no profit, attracting customers.

Question 5

Business Ownership: All partners in a partnership have an equal share in the business.

Accepted Answer

False

Question 6

Stakeholders: Identify the internal stakeholders.

Accepted Answer

Owners.

Question 7

Business Ownership: The financial information of a Private Limited Company...

Accepted Answer

is made public.

Question 8

Business Ownership: If you own a 'piece' of a Private Limited Company you are called a:

Accepted Answer

Shareholder

Question 9

Market Research: Identify a form of primary research.

Accepted Answer

Interviews.

Question 10

Stakeholders: Customers, Government and the local community are all examples of...

Accepted Answer

External Stakeholders.

Question 11

Business Growth: A takeover happens when...

Accepted Answer

one business buys control of another.

Question 12

Market Segmentation: Identify a common method of market segmentation.

Accepted Answer

Lifestyle, Gender, Income, Location

Question 13

Business Activity: In business, what is enterprise?

Accepted Answer

Spotting an opportunity to make money.

Question 14

Business Ownership: The financial information of a sole trader...

Accepted Answer

does not have to be shared with anyone.

Question 15

Marketing Mix: "_________" may be used to sell off old products.

Accepted Answer

promotional pricing

Question 16

Marketing Mix: In which stage of the product life cycle does a product need most advertising?

Accepted Answer

introduction

Question 17

Business Ownership: If the sole trader dies...

Accepted Answer

The business ceases to exist.

Question 18

Business Ownership: In a Private Limited Company how are shares sold?

Accepted Answer

By agreement of the existing shareholders.

Question 19

Business Ownership: Public Limited Companies have...

Accepted Answer

Limited Liability

Question 20

Business Ownership: The financial information of a Public Limited Company...

Accepted Answer

is made public.

Question 21

Marketing Mix: Advertising is an important aspect of...

Accepted Answer

promotion.

Question 22

Marketing Mix: Shops that sell directly to customers are called...

Accepted Answer

Retailers

Question 23

Market Research: An advantage of collecting Secondary data is...

Accepted Answer

it's often cheap., it's often quick.

Question 24

Business Ownership: Partnerships have...

Accepted Answer

Unlimited Liability

Question 25

Business Ownership: Sleeping partners...

Accepted Answer

Take no part in running the business but provide capital.

Question 26

Market Segmentation: Which market segment is most appropriate for this product?

Accepted Answer

Toddlers.

Question 27

Marketing Mix: Promotion aims to...

Accepted Answer

create or change the image of a business., inform customers about a new product., inform customers about a new service., maintain or increase sales.

Question 28

Business Aims and Objectives: The most basic business objective is...

Accepted Answer

Survival.

Question 29

Business Ownership: A sole trader has...

Accepted Answer

Unlimited liability.

Question 30

Business Ownership: Public Limited Companies put theses letters after their business name:

Accepted Answer

Plc

Question 31

Marketing Mix: Which term is not considered part of the of the marketing mix?

Accepted Answer

Production

Question 32

Market Segmentation: Which market segment is most appropriate for this product?

Accepted Answer

Professional Musicians.

Question 33

Market Research: A disadvantage of collecting Primary data is...

Accepted Answer

it's time consuming., it's often expensive.

Question 34

Stakeholders: An owner's main interest in running a business is usually...

Accepted Answer

Profit.

Question 35

Business Activity: What do new businesses do to reduce risk?

Accepted Answer

Complete market research., Create a business plan.

Question 36

Business Ownership: Private Limited Companies have...

Accepted Answer

Limited Liability

Question 37

Business Growth: A merger happens when...

Accepted Answer

two businesses agree to join together.

Question 38

Business Ownership: A Public Limited Company is owned by:

Accepted Answer

The person or group with the majority of shares.

Question 39

Marketing Mix: The latest iPad is priced higher than other tablets. This method is called...

Accepted Answer

skimming.

Question 40

Business growth: A cheese factory buying a dairy farm would be an example of...

Accepted Answer

backwards vertical growth.

Question 41

Business growth: A supermarket buying a travel agency is an example of...

Accepted Answer

diversification.

Question 42

Business Aims and Objectives: Standard business aims include:

Accepted Answer

Increased market share., Profit.

Question 43

Stakeholders: Identify the internal stakeholders.

Accepted Answer

Employees

Question 44

Marketing Mix: When sales are at their highest which stage of the product life cycle is this?

Accepted Answer

maturity

Question 45

Business Aims and Objectives: Standard business aims include:

Accepted Answer

Growth., Survival.

Question 46

Business Ownership: The financial information of a partnership...

Accepted Answer

does not have to be shared with anyone.

Question 47

Market Research: Identify a form of secondary research.

Accepted Answer

Newspapers and magazines., Websites.

Question 48

Marketing Mix: A business that uses competitor pricing will...

Accepted Answer

put their prices close to that of their competitors.

Question 49

Business Aims and Objectives: A business is 'satisficing' when...

Accepted Answer

It has made just enough profit to cover costs.

Question 50

Marketing Mix: Ordering flowers online to be sent as a gift is an example of...

Accepted Answer

Physical distribution

Question 51

Business Growth: Organic growth...

Accepted Answer

Is internal growth.

OCR GCSE Business Unit 1: Business Activity and Marketing

Questions 51

OCR GCSE Business Unit 1: Business Activity and Marketing

Questions 51