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Enterprise & Marketing R064 Multiple Choice 2
By Robert Appleton
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Last updated over 5 years ago
16 questions
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Question 1
1.
Which of the following is an example of a variable cost for a coffee shop?
Buildings insurance
Interest on a start-up loan
Milk
Newspaper advertising
Question 2
2.
Which of the following is a word which describes a growing economy?
Boom
Decline
Recession
Slump
Question 3
3.
Which functional area is responsible for monitoring cash flow?
Banking
Finance
Human Resources
Operations
Question 4
4.
A break-even graph for a new product is shown below.
A
B
C
D
Question 5
5.
What is the name given to the share of profits paid by a franchisee to a franchisor each year?
Loyalties
Patent
Royalties
Taxation
Question 6
6.
Which functional area is responsible for health and safety in the workplace?
Finance
Human Resources
Marketing
Operations
Question 7
7.
Which of the following is a method of primary (field) market research?
Consumer Trials
Government Statistics
Internal Data
Mintel report
Question 8
8.
Which of the following tasks would be carried out by the Marketing function of a business?
Allocating financial resources
Finding out customer opinions
Planning production
Selecting new employees
Question 9
9.
Which of the following is a legal external factor which could affect product development?
Copyright challenge
Economic recession
Interest rate rise
Launch of a new mobile operating system
Question 10
10.
Which of the following would be included in a business plan for a start-up business?
A review of the business objectives set last year
Profits during the last 12 months
Profit forecasts for the next 12 months
Sales during the last 12 months
Question 11
11.
A sole trader decides to advertise their business using social media.
One key feature of advertising using social media is that:
It can only target people in the local area
It is low cost to keep details up-to-date
It is time-consuming to change details on existing advertising
It will only be seen by people aged under 25
Question 12
12.
What does Line X represent on the break-even graph?
Fixed Cost
Sales revenue
Total costs
Variable costs
Question 13
13.
Which pricing strategy is being used by a business which launches a new product with a low price to generate sales quickly?
Competative pricing
Price penetration
price skimming
Psychological pricing
Question 14
14.
A sole trader finances their new business using a small business grant.
Which of the following best describes a feature of this source of capital?
A high rate of interest will be charged
High application fees will be charged
The funds obtained do not have to be repaid
This source of capital can always be obtained without completing an application form
Question 15
15.
Which of the following would not be carried out by the Operations function of a business?
Ensuring compliance with employment legislation
Logistics
Production planning
Quality control
Question 16
16.
A sole trader carries out secondary (desk) market research when preparing to set up a new business.
One benefit of using this method is that:
It cannot be accessed by competitors
It is relatively quick to obtain
It is always up-to-date
The data is tailored to the needs of the individual business