Month: June 2019

Business Studies Multiple Choice Question – 10 June 2019

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

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Lucy wants to increase the added value of her products.

What is meant by added value?

Select ONE answer:

  1. The difference between what a business pays its employees and what it receives from selling its products
  2. Variable costs minus price
  3. The difference between what a business pays its suppliers and what it receives from selling its products
  4. Price minus total cost

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

  1. what you pay employees does not add to a product.
  2. variable minus price gives fixed costs.
  3. Correct – is adding value – adding to what the product has cost and what you sell it for.
  4. price of what? Not specific.

 

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Business Studies Multiple Choice Question – 9 June 2019

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

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Lucy has set some objectives for LucyArts Ltd.

Which one of the following is a non-financial objective?

Select ONE answer:

  1. Revenue maximisation
  2. Personal satisfaction
  3. Profit maximisation
  4. Improve cash flow

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2

  1. not an objective – does not mean anything.
  2. Correct – personal satisfaction can be an objective.
  3. again not an objective – does not mean anything.
  4. improving cash flow is not an objective.

 

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Business Studies Multiple Choice Question – 8 June 2019

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

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Before the business opened she carries out primary market research.

Which ONE of the following is an example of primary market research?

Select ONE answer:

  1. Interviews with competitors
  2. Published government statistics
  3. Magazine articles
  4. Internet research

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1

  1. Correct – interviews with competitors also direct.
  2. published statistics means that someone has already carried out the research not primary.
  3. magazine article seen by numerous people is not primary.
  4. internet research – again already collected by someone else.

 

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Business Studies Multiple Choice Question – 7 June 2019

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

Lucy runs a business called LucyArts Ltd, selling a range of art products in Stafford.

Before the business opened she carries out primary market research.

Which ONE of the following is an example of primary market research?

Select ONE answer:

  1. Focus group meetings
  2. Published government statistics
  3. Magazine articles
  4. Internet research

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1

  1. Correct – focus groups gain information directly from the people.
  2. published statistics means that someone has already carried out the research not primary.
  3. magazine article seen by numerous people is not primary.
  4. internet research – again already collected by someone else.

 

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Business Studies Multiple Choice Question – 6 June 2019

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

 

LucyArts Ltd is an art shop in Stafford.

Which ONE of the following is a reason why Lucy set up LucyArts Ltd as a private limited company?

Select ONE answer:

  1. would have unlimited liability
  2. could guarantee that the business would make a profit
  3. would have the opportunity to raise finance by selling shares
  4. could raise money on the stock exchange

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

  1. becoming private gives you limited liability which is better than unlimited.
  2. does not guarantee that the business makes a profit.
  3. Correct – a private company can invite people to buy shares in the business.
  4. private limited cannot raise money on the stock exchange.

 

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.