Business Studies Multiple Choice Question – 8 January 2022

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

Business Studies
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In September 2021, the average price of petrol in the UK increased by 16% per litre over September 2020, which resulted in higher inflation.

This increase in the price of petrol may have had a significant impact on UK businesses, because ….

Select ONE answer:

  1. quality of products
  2. promotion of products
  3. sales forecasting
  4. branding

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

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

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct – Inflation is an increase in the average price level/across the economy OR supply is the amount of goods provided or produced in a given time period at a certain price. Increased fuel prices will lead to increased transport costs. Costs of supplies may increase because a business may pass on increased costs of transport.
  4. Not correct

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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