Business Studies quiz

  • Created by: Jessica.S
  • Created on: 20-10-16 18:41
Give one reason businesses are set up.
Financial
1 of 36
What is the most important aim of a business?
Survival
2 of 36
Someone who identifys new business opportunities, takes on calculated risks, comes up with new ideas and has drive and determination.
Entrepreneur
3 of 36
An advantage of being a sole trader.
Be your own boss
4 of 36
Involves 2-20 people.
Partnership
5 of 36
You can lose more than you put in to pay off debt.
Unlimited liability
6 of 36
Name a disadvantage of a private limited company.
Expensive
7 of 36
What do limited liability companies have?
Separate legal identity
8 of 36
What is a company with the right to sell another firms products?
Franchise
9 of 36
What is a way that a business can succeed.
Profit
10 of 36
What needs to be market driven?
A product
11 of 36
What's an objective?
A goal for success
12 of 36
How many different types of stakeholders are there?
Two
13 of 36
Give a type of internal stakeholder.
Employee
14 of 36
What is the minimum amount of sections a business plan should have?
Seven
15 of 36
Does a good business plan guarantee success?
No
16 of 36
What is a main influence of location?
Footfall
17 of 36
How many P's are there in the marketing mix?
Four
18 of 36
What are the two main features of the marketing map?
Quality and price
19 of 36
State whether field research is primary of secondary.
Primary
20 of 36
Give an advantage of desk research
Instant
21 of 36
What is the point where producers and consumers agree called?
Equillibrium
22 of 36
Give an example of advertisement
Radio
23 of 36
Is raw material a fixed or variable cost?
Variable
24 of 36
Revenue-Cost=
Profit
25 of 36
Give a source of finance.
A grant
26 of 36
What do chambers of commerce do?
Help local firms
27 of 36
Can cash flow forecasts help firms to anticipate problems?
Yes
28 of 36
What can effect cash flow?
Credit terms
29 of 36
Give one way a business can improve cash flow.
Destock
30 of 36
Give a reason for poor cash flow.
Overtrading
31 of 36
The process of narrowing down candidates for a job.
Shortlisting
32 of 36
A list of qualifications, attitudes and experiences required for the job
Person specification
33 of 36
A lump sum added to pay ,usually once a year
Bonus
34 of 36
What is an example of a fringe benefit?
Company car
35 of 36
What, by law, must employees be paid?
Minimum wage
36 of 36

Other cards in this set

Card 2

Front

What is the most important aim of a business?

Back

Survival

Card 3

Front

Someone who identifys new business opportunities, takes on calculated risks, comes up with new ideas and has drive and determination.

Back

Preview of the front of card 3

Card 4

Front

An advantage of being a sole trader.

Back

Preview of the front of card 4

Card 5

Front

Involves 2-20 people.

Back

Preview of the front of card 5
View more cards

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