Business Studies Multiple Choice Question – 31 July 2018

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

Which ONE of the following is a characteristic of an entrepreneur?

Select ONE answer only:

  1. A very wealthy family background
  2. A willingness to undertake a new venture
  3. Someone who is not willing to take risks
  4. An education to at least up to a university degree
  5. Someone who was a member of the Scouting Association

Explain ONE method a business could use to add value to its products.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 2 – The others are not characteristics of an entrepreneur especially 4 which is not a requirement to be an entrepreneur to have academic qualifications but might be useful as is 5.

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Business Studies Multiple Choice Question – 30 July 2018

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

Which ONE of the following is a characteristic of an entrepreneur?

Select ONE answer only:

  1. A very wealthy family background
  2. A preparedness to take risks
  3. Someone who is not willing to take risks
  4. An education to at least up to a university degree
  5. Someone who was a member of the Scouting Association

Explain ONE reason why customer service is an important need that businesses should meet.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 2 – The others are not characteristics of an entrepreneur especially 4 which is not a requirement to be an entrepreneur to have academic qualifications but might be useful as is 5.

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Business Studies Multiple Choice Question – 29 July 2018

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

Which ONE of the following BEST defines the role of an entrepreneur?

Select ONE answer only:

  1. Someone who enjoys working in the service sector
  2. Someone who wants to avoid paying income tax
  3. Someone who owns and runs their own business and takes risks
  4. Someone who wants to work in the public sector
  5. Someone who runs a business while the owner is away on holiday

Discuss an impact that entrepreneurs have on the economy.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 3 – This is a definition of an entrepreneur, the rest are managers or employees.

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Business Studies Multiple Choice Question – 28 July 2018

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

Which ONE of the following is MOST likely to be a customer for a marketing agency that produces brochures for holiday tour operators?

Select ONE answer only:

  1. The local government sector
  2. The public at large
  3. The supplier who provides the business with paper
  4. The stakeholders in the business
  5. A business selling safari adventure holidays in South Africa

Explain ONE way that a business can meet the needs of its customers.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 5 – This business is a natural customer of the tour operator, the rest are not especially 3 which is a supplier to the business.

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Business Studies Multiple Choice Question – 27 July 2018

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

Which ONE of the following is the purpose of a business?

Select ONE answer only:

  1. To produce goods and services
  2. To minimise profit
  3. To meet the needs of suppliers
  4. To only work for the government
  5. To provide employment to lazy workers.

Discuss a method that a business owner may use to reduce the level of risk in the running of their business.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 1 – The other answers are not the main purposes of a business?

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Business Studies Multiple Choice Question – 26 July 2018

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

Which ONE of the following is a factor that could increase the level of risk in a business?

Select ONE answer only:

  1. Seasonal demand
  2. Having a large target market
  3. Having a low fixed costs
  4. Employing a large number of employees
  5. Having a unique product to sell

Explain ONE reason why running a business can involve high levels of risk.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 1 – Seasonal demand will be a high-risk factor for a business trying to match its revenues and costs and survive for the rest of the year.  Low fixed costs are an advantage to any business, as its break-even level before it can make profits should normally be low.

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Business Studies Multiple Choice Question – 25 July 2018

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

Which ONE of the following is a reason for a product to become obsolete?

Select ONE answer only:

  1. The product breaks
  2. An accessory for the product is introduced
  3. The product is unique
  4. New technology is introduced
  5. The general level of prices rise in the market

Explain ONE way that changing consumer needs could create a new opportunity for a business.

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This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 4 – New technology is introduced that will make this product obsolete.

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