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S3 Business Quiz Flashcards | StudBud
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S3 Business Quiz
S3 Business Quiz
25 terms
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A revision quiz for students in S3 #Business #Management
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
What are the 'internal factors' that may affect a business?
The Economy, Human Resources, Competition
Politics, Current Technology, Social Factors
Finance, Human Resources, Current Technology
The Environment, Finance, The Economy
2
Why are our wants unlimited?
Resources are limited
Resources are unlimited
There's always something else that people want or need
Companies always want to produce and sell more
3
Why do businesses exist?
So we can trade with other countries
Government laws mean that businesses must start
To satisfy needs & wants by providing goods & services
So that resources can be used up
4
Which of these might be an effect of an increase in interest rates?
Customers will be more interested in looking at products
The costs that businesses have to pay will decrease
More people will have a job
It will be more expensive for businesses to borrow money
5
This department deals with issues relating to the management of staff (employees)
Human Resources
Marketing
Operations
Finance
6
Which of these is a Variable Cost?
Materials
Rent
Insurance
Maintenance
7
Business activities that provide services are in the _________ sector.
Tertiary
Primary
Quaternary
Secondary
8
Business activities in construction and manufacturing are in the __________ sector.
Secondary
Quaternary
Primary
Tertiary
9
This department is responsible for producing the good/service
Finance
Marketing
Operations
Human Resources
10
A business starts with £1000, has sales of £4000 & costs of £5000. What is the closing balance?
£1000
£0
£2000
£10000
11
Business activities such as farming, fishing, forestry and mining are in the __________ sector.
Primary
Tertiary
Secondary
Quaternary
12
Which of these would be a common aim for a business?
Customer satisfaction
All of these
Profit maximisation
Increase market share
13
Which type of business allows its brand name & ideas to be used by another business, for a fee?
Co-operative
Sole Trader
Franchise
Council
14
A person who sets a up a business, taking on financial risks in the hope of profit is called...
an entrepreneur
an employee
a councillor
a manager
15
Which of these is NOT a good?
A computer
A school tie
A haircut
A table
16
What are the three sectors of industry?
Private, Secondary, Third
Government, Business, Voluntary
Primary, Secondary, Tertiary
Public, Private, Charity
17
What is the name of a type of business that operates in more than one country?
Multinational
World Trade Group
Co-operative
United Nations Organisation
18
Which of these might be an effect of a recession?
A decrease in the amount of tax the government collects
Decreased unemployment
Increased unemployment
An increase in the amount of tax the government collects
19
This department promotes the business and it's products
Human Resources
Operations
Finance
Marketing
20
Which of these is a need?
Pencil
Textbook
Water
Mobile phone
21
What is a stakeholder?
Someone who has an interest in an organisation
Someone who owns a business
Someone in government who supervises an organisation
Someone who buys things from a business
22
Which of these is the name for a 'general slowdown in business activity'?
Recession
Boom
Peak
Flop
23
Which of these is NOT the name of a Functional Department in a business?
Human Resources
Operations
Marketing
Board of Directors
24
Which type of business is owned by a large number of shareholders & is managed by directors?
Sole Trader
Partnership
Public Limited Company
Private Limited Company
25
This department manages the money in a business
Marketing
Operations
Human Resources
Finance
