Ultimate Trivia Facts And Questions On Business Studies!

12 Questions | By Leeaaronbaker | Last updated: Mar 22, 2022 | Total Attempts: 4273

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Ultimate Trivia Facts And Questions On Business Studies! - Quiz

Ultimate Trivia Facts and Questions on Business Studies! No one can come to the business and know all the secrets to what it takes to do a successful business. A lot of time and energy goes into unlocking the wisdom of building an empire. Below is an Edexcel unit 3 business studies multiple choice quiz that is designed to test how much you know about the business.

Questions and Answers

1.

Business finance can come from either internal or external sources. (a) Which of the following is an internal source of finance?
- A.
  
  A loan from a bank.
- B.
  
  An overdraft.
- C.
  
  Selling assets.
- D.
  
  A stock market flotation.
2.

Amazon is a well known online retailer. It has grown by differentiating itself from its rivals and being highly competitive. Amazon is an online retailer. (a) Which one of the following elements of the marketing mix does this represent?
- A.
  
  Price.
- B.
  
  Product.
- C.
  
  Promotion
- D.
  
  Place.
3.

Select one answer.
- A.
  
  Decline
- B.
  
  Maturity.
- C.
  
  Growth.
- D.
  
  Introduction.
4.

A business breaks even at the level of output where:
- A.
  
  Total profits = total costs
- B.
  
  Fixed costs = total revenue
- C.
  
  Variable costs = fixed costs
- D.
  
  Total revenue = total costs.
5.

Which of the following is most likely to be a barrier to effective communication between workers?
- A.
  
  De-stocking.
- B.
  
  Poor customer service.
- C.
  
  Pressure groups.
- D.
  
  Use of jargon.
6.

Apple produces home electronics, including strong brands like the iPod and iPhone, for the mass market. Product design is an important part of its success. (a) Product design is most likely to help a business:
- A.
  
  Generate quantitative research.
- B.
  
  Differentiate its products.
- C.
  
  Improve its organisational structure.
- D.
  
  Reduce productivity.
7.

Marks and Spencer sells clothes, furniture and food. It is recognised by customers as having very good levels of customer service. (a) Which of the following is the most likely result of good customer service at Marks and Spencer?
- A.
  
  Increased repeat purchases.
- B.
  
  Lower profits.
- C.
  
  Lower margin of safety.
- D.
  
  Increased cash outflows.
8.

Which of the following is a cash inflow?
- A.
  
  Payments to suppliers.
- B.
  
  Purchasing assets.
- C.
  
  Longer credit terms for customers.
- D.
  
  Taking out a bank loan.
9.

Which of the following is an environmental problem resulting from a business?
- A.
  
  Lower profits
- B.
  
  Higher costs
- C.
  
  Pollution
- D.
  
  Poor communication
10.

Which of the following best describes the term minimum wage?
- A.
  
  A fixed yearly payment paid monthly
- B.
  
  A payment made to employees for working extra hours
- C.
  
  The lowest amount legally a firm can pay its employees
- D.
  
  A payment for reaching an employees target
11.
- A.
  
  Revenue by more than costs
- B.
  
  Fixed costs
- C.
  
  Variable cots by more than fixed costs
- D.
  
  Ticket prices
12.
- A.
  
  Maturity
- B.
  
  Decline
- C.
  
  Growth
- D.
  
  Introduction