Business Studies Multiple Choice Question – 30 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

A random sample……?

Select ONE answer:

  1. Is always small
  2. Involves individuals who have an equal chance of selection
  3. Involves the whole target population
  4. Is used in secondary research
  5. Can only be 95% accurate

Why do firms sometime non-random samples:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 2 – In this technique, each member of the population has an equal chance of being selected as the subject. The entire process of sampling is done in a single step with each subject selected independently of the other members of the population. There are many methods to proceed with simple random sampling.

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Business Studies Multiple Choice Question – 29 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Niche marketing is likely to involve?

Select ONE answer:

  1. Large-scale production
  2. Mass-market advertising
  3. Widespread distribution
  4. Focusing on a small segment of the market
  5. Production line

Give a real-life example of niche marketing and why it is successful:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 4 – It is the business of promoting and selling a product or service to a specialised or small segment of a market.

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Business Studies Multiple Choice Question – 28 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

A dog product in the Boston Matrix?

Select ONE answer:

  1. Have low sales in a slow-growth market
  2. Have low sales in a high-growth market
  3. Have high sales in a slow-growth market
  4. Have high sales in a high-growth market
  5. Has not yet been launched

Give a real-life example of a dog product and explain why it is one:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 1 – Unsurprisingly, the term “dogs” refers to products that have a low market share in unattractive, low-growth markets. Dogs may generate enough cash to break-even, but they are rarely, if ever, worth investing in. Dogs are usually sold or closed.

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Business Studies Multiple Choice Question – 27 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

The size of a market is best measured by?

Select ONE answer:

  1. The number of firms
  2. The number of employees
  3. The cash-flow
  4. The volume of sales
  5. The number of surveys

Give an example of (a) a growing and (b) a declining market for consumer electronics products:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 4 – how to determine the size of a market? Define your target customer; Estimate the number of target customers; Determine your penetration rate; Calculate the potential market size: Volume and value; Apply the market-size data….

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Business Studies Multiple Choice Question – 26 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Which of the following is NOT a marketing objective?

Select ONE answer:

  1. Increase sales
  2. Raise brand awareness
  3. Launch new product
  4. Increased productivity
  5. Gain market share

What type of objective is your answer if it is not a marketing objective:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 4 – Increased productivity is an improving profitability objective

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Business Studies Multiple Choice Question – 25 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

The firm’s cost-plus strategy in the figure adds?

Diagram 05

Select ONE answer:

  1. 10% to costs
  2. 20% to costs
  3. 33% to costs
  4. 25% to costs
  5. 40% to costs

Show your workings to arrive at your answer, and explain and justify your reasons & what would be the price if it added 50% to costs – show your workings:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 4 – If the cost equals £40 then assume it is equal to 100%. Adding the £10 then equates to 25% of the £40 total costs i.e. £10 / £40 = 25%

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Business Studies Multiple Choice Question – 24 November 2017

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

The strategy at X in the figure is known as?

Diagram 04

Select ONE answer:

  1. Extrusion
  2. Extension
  3. Depreciation
  4. Anti-declension
  5. Forensic

Give and describe a real-life example of this strategy in the soft drinks market:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS5 classes.

The answer is 2 – An extension strategy is a practice used to increase the market share for a given product or service and thus keep it in the maturity phase of the marketing product lifecycle rather than going into decline. Extension strategies include rebranding, price discounting and seeking new markets.

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