Ultimate Trivia Facts And Questions On Business Studies!

Pollution is an environmental problem resulting from a business. Businesses often contribute to pollution through their manufacturing processes, waste disposal, and emissions. This can have harmful effects on the environment, including air and water pollution, habitat destruction, and negative impacts on human health. Pollution is a significant concern that needs to be addressed by businesses to ensure sustainable and responsible practices. Lower profits, higher costs, and poor communication, on the other hand, are not directly related to environmental problems caused by businesses.

The term minimum wage refers to the lowest amount that a firm is legally required to pay its employees. This ensures that workers receive a fair and reasonable compensation for their work, preventing exploitation and ensuring a basic standard of living. It is a mandated wage floor set by the government to protect workers from being paid unreasonably low wages.

Product design is most likely to help a business differentiate its products. This means that through unique and appealing design elements, a business can set its products apart from competitors in the market. This differentiation can attract customers, increase brand recognition, and ultimately lead to higher sales and success for the business.

The correct answer is Maturity. Maturity is the stage in the product life cycle where the product has reached its peak in terms of sales and market share. It is a stable phase where the product is well-established and has gained acceptance from the target market. During this stage, the competition is high, and the market becomes saturated. The focus shifts from acquiring new customers to retaining existing ones. The product may undergo minor improvements or modifications to sustain its position in the market.

Good customer service at Marks and Spencer is likely to result in increased repeat purchases. When customers have a positive experience with a company's customer service, they are more likely to become loyal and return to make future purchases. This can lead to increased sales and revenue for the company.

Selling assets is considered an internal source of finance because it involves using the company's own resources to generate funds. This means that the company is selling its own assets, such as equipment or property, to raise money. Internal sources of finance are typically more sustainable and less risky compared to external sources, as they do not involve borrowing or relying on external parties.

Taking out a bank loan is considered a cash inflow because it involves borrowing money from a bank, which increases the cash available to the business. This loan is not a payment or purchase, but rather a source of funds that will contribute to the company's cash balance.

The correct answer is "total revenue = total costs." This means that a business reaches the break-even point when the total revenue generated from sales equals the total costs incurred to produce and sell the goods or services. At this point, there is no profit or loss, and the business covers all its expenses. It is an important milestone for a business as it indicates the minimum level of sales required to cover costs and start generating profits.

The given statement suggests that Amazon is an online retailer, which indicates the element of the marketing mix represented is "Place." This element refers to the distribution channels and locations where the product is made available to the customers. As an online retailer, Amazon's "place" is the virtual platform where customers can access and purchase their products.

The use of jargon can be a barrier to effective communication between workers because it involves using specialized terminology or language that may not be understood by everyone. This can lead to confusion, misinterpretation, and misunderstandings, ultimately hindering the flow of information and ideas between individuals.

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Increasing revenue while keeping costs in check or reducing costs while maintaining or growing revenue are common strategies for boosting profits. In this case, if EasyJet can make a profit of £2 million per year from each of the new planes it ordered, it implies that increasing revenue by more than the costs associated with those planes would lead to increased profits.