A Level Business Quiz Questions And Answers

40 Questions | By Badgered | Updated: Jul 24, 2022 | Attempts: 12955

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Are you planning to start a new business or grow up the existing one? You can take this A Level Business quiz and see what your understanding of running a business is. We have prepared a set of questions for you that will help you check your knowledge about business, whether it is a local business or any multinational organization. If you miss out on something, you can also learn. Go for it, and try for a perfect score on the quiz. All the best!

Questions and Answers

1.

A business has to raise prices to pay higher wages. Which stakeholder is affected least?
- A.
  
  Workers
- B.
  
  Shareholders
- C.
  
  Managers
- D.
  
  Customers
2.

VAT is a tax on:
- A.
  
  Sales
- B.
  
  Income
- C.
  
  Profit
- D.
  
  Property
3.

Corporation Tax is a tax on the profits of __________ ____________
4.

Over the last 50 years, economic growth in the UK has averaged...
- A.
  
  25% each year
- B.
  
  2% each year
- C.
  
  1% each year
- D.
  
  2.5% each year
5.

How are interest rates set in the UK?
- A.
  
  They are decided by the MPC.
- B.
  
  They are decided by the EU Banking Committee.
- C.
  
  They are decided by the UK Government.
- D.
  
  They are decided by the Governor of the Bank of England.
- E.
  
  They are decided by the international market rate.
6.

Which of these is NOT paid to HMR&C by a private limited company?
- A.
  
  Income tax (PAYE)
- B.
  
  VAT
- C.
  
  NIC (employer contribution)
- D.
  
  Corporation tax
7.

Limited liability means_________.
- A.
  
  Loss cannot exceed the value of total assets.
- B.
  
  Every shareholder has to help to pay off any debts.
- C.
  
  You only have to pay back what you can afford.
- D.
  
  Only the Board members have a personal liability.
8.

A small business often has to use which pricing strategy when entering a new market?
9.

Which of these is NOT a result of customer satisfaction?
- A.
  
  Word of mouth recommendation
- B.
  
  Repeat business
- C.
  
  Improving product design
- D.
  
  Repeat purchases
10.

Which TWO of these would be considered PLACE in the marketing mix? (select that apply)
- A.
  
  A point-of-sale display
- B.
  
  Free gift
- C.
  
  Home delivery service
- D.
  
  A new design
- E.
  
  Charging the same as a competitor
11.

Starting a business that fails probably means that.
- A.
  
  Starting another business would be too risky.
- B.
  
  Starting another business is more likely to succeed.
- C.
  
  Everybody loses a lot of money.
- D.
  
  The market research wasn't very good.
12.

Innovation is BEST described as.
- A.
  
  Coming up with a completely new idea
- B.
  
  Making an invention suitable for mass production
- C.
  
  Doing something cheaper or better
- D.
  
  Holding the patent of something new
13.

A new band would protect its songs by.
- A.
  
  Hiring lawyers
- B.
  
  Warning competitors not to copy them
- C.
  
  Keeping records to show they had written the songs
- D.
  
  Obtaining a patent
14.

Thinking about an entrepreneur, which is never true.
- A.
  
  They are prepared to take a risk.
- B.
  
  They always prefer to offer services, rather than a good.
- C.
  
  They want to run their own business.
- D.
  
  They show initiative. They enjoy making things happen, rather than just waiting.
15.

WHOLESALER is another term for.
- A.
  
  A competitor
- B.
  
  A supplier
- C.
  
  A group of businesses
- D.
  
  A manufacturer
16.

A source of added value can be.
- A.
  
  USP
- B.
  
  Formula
- C.
  
  Price
- D.
  
  Poor service
17.

Hiring somebody to count the number of people who enter a competitor's shop on a specific day is called 'observation' and would be considered secondary market research.
- A.
  
  True
- B.
  
  False
18.

Hiring somebody to count the number of people who enter a competitor's shop on a specific day is called 'observation' and would be considered secondary market research.
- A.
  
  True
- B.
  
  False
19.

This production method is known as:
- A.
  
  Flow production
- B.
  
  Job production
- C.
  
  Cell production
- D.
  
  Batch production
20.

Which of the following is NOT an advantage of cell production?
- A.
  
  Better communication
- B.
  
  Multi-skilling
- C.
  
  Low cost of training
- D.
  
  Improved job satisfaction
21.

Inspecting finished products at the end of a production line is known as
- A.
  
  Quality management
- B.
  
  Quality assurance
- C.
  
  Quality control
- D.
  
  Quality inspection
22.

When quality is inspected at every stage of production, this is known as.
- A.
  
  Quality control
- B.
  
  Continuous improvement ('Kaizen')
- C.
  
  Quality management
- D.
  
  Quality assurance
23.

Job production is usually associated with.
- A.
  
  High volume, low-value products
- B.
  
  Catering
- C.
  
  Low volume, expensive products
- D.
  
  Car manufacturing
24.

This production method is known as:
- A.
  
  Job production
- B.
  
  Flow production
- C.
  
  Cell production
- D.
  
  Batch production
25.

Which statement is never true for a factory using quality assurance?
- A.
  
  Quality is the responsibility of a special team.
- B.
  
  Quality is something everybody helps improve.
- C.
  
  Standards such as ISO9001 are used.
- D.
  
  Quality can be measured regularly as part of TQM.