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