Business Studies Multiple Choice Question – 19 January 2020

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

Whilst at Art College, Lucy made Christmas cards for friends and relatives.  She wants to start a full-time business but needs to decide between setting up as a sole trader or buying into a franchise.  The market for Christmas cards is very competitive but Lucy produces a card that is designed and made to the customer’s exact requirements.

Which ONE of the following is the most likely to give Lucy a competitive advantage?

 

Select ONE answer:

  1. Having unlimited liability
  2. Operating in a competitive market
  3. Identifying different market segments
  4. Providing a unique product

 

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 4

 

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