Author: stuart001uk2014

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

Economics Multiple Choice Question – 24 July 2017

If the Income Elasticity of Demand for a product is +2 and income rises by 10%, what will happen to sales?

Select ONE answer:

  1. Rise by 5%
  2. Decrease by 5%
  3. Rise by 20%
  4. Fall by 20%
  5. Stay the same

Explain with a real-life example what is meant by an income-elastic product:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 3 – Sales will rise by 20% i.e. YED of 2 * 10%.

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Economics Multiple Choice Question – 23 July 2017

Price elasticity of demand measures?

Select ONE answer:

  1. % change in quantity demanded compared to % change in price
  2. % change in quantity supplied compared to % change in price
  3. % change in price compared to % change in supply
  4. % change in quantity demanded compared to % change in income
  5. % change in quantity demanded compared to % change in advertising

Explain what is meant by price-inelastic demand:

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

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 1 – The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price.

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Business Studies Multiple Choice Question – 22 July 2017

A business plan is?

Select ONE answer:

  1. A guarantee of success
  2. Produced by the bank
  3. Likely to include a marketing and financial plan
  4. A legal requirement
  5. Only required by companies

Explain one possible benefit of producing a business plan for potential investors:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3 – will normally include a marketing and financial plan amongst other sections.

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Business Studies Multiple Choice Question – 21 July 2017

A stakeholder is ….?

Select ONE answer:

  1. Is always an owner of the business
  2. Is an individual or group affected by a firm’s actions
  3. Must be an employee of the business
  4. Must be linked to the government
  5. Must be a customer

State four stakeholders groups:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2 – Stakeholders are individuals or groups affected by a firm’s decision either internally like an employee or externally like a customer.

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Business Studies Multiple Choice Question – 20 July 2017

A cash-flow forecast estimates?

Select ONE answer:

  1. Future profits
  2. Future assets
  3. Future sales
  4. Future inflows and outflows of cash
  5. Costs

Why might a sale not increase a firm’s cash-flow?:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 4 – A cash-flow forecast estimates future inflows and future outflows of cash

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