
Ocr gcse business
Quiz by Amanda McIntosh
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10 questions
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- Q1What is the primary purpose of a business plan?To calculate the business taxesTo conduct market researchTo develop the product onlyTo outline the goals and strategies of a business30s
- Q2Which of the following is a benefit of having a strong brand identity?Increased customer loyaltyReduced advertising effectivenessLimitations on market reachHigher production costs30s
- Q3What is meant by 'cash flow' in a business context?The total income from sales onlyThe total amount of money coming in and going out of a businessThe expenses incurred during productionThe profit made after a year30s
- Q4What is market segmentation?The process of dividing a market into distinct groups of buyersThe total number of buyers in the marketThe analysis of market trends over timeThe price range of products in a market30s
- Q5What does SWOT stand for in business analysis?Stocks, Warranties, Options, TransfersSizes, Workflows, Outputs, TrendsSales, Wages, Operations, TechnologyStrengths, Weaknesses, Opportunities, Threats30s
- Q6What is the main purpose of market research?To increase product pricesTo develop marketing softwareTo assess employee satisfactionTo gather information about consumers' needs and preferences30s
- Q7What does the term 'break-even point' refer to in business?The level of sales at which total revenues equal total costsThe total number of products sold in a yearThe maximum amount of debt a company can handleThe point at which a business starts making profits30s
- Q8What is a competitive advantage?A financial report showing lossesA unique attribute that allows a company to outperform its competitorsA type of marketing strategyA government regulation that protects a business30s
- Q9What is the role of a stakeholder in a business?A manager managing employee schedulesAn individual or group that has an interest in the success of a businessA person who invests money in stocksA customer who only shops for discounts30s
- Q10What is the main advantage of operating as a sole trader?Complete control over business decisionsShared responsibility for debtsLimited liabilityAccess to more funding30s