Category: Business Studies

Business Studies Multiple Choice Question – 23 October 2017

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

Jenny and Tasmin run a marketing agency, Creative+, which specialises in the design of holiday brochures and websites for holiday tour companies.

Which ONE of the following is MOST likely to be a customer of Creative+?

Select ONE answer:

  1. The public sector
  2. The general public
  3. A business supplying paper to Creative+
  4. A business selling adventure holidays in Africa
  5. A hotel that caters for business travelers in their home town

What is the benefit for Creative+ in specialising in designing holiday brochures and websites for holiday tour companies?
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 4 – The business selling adventure holidays in Africa per the information given in the question is the most likely to be their customer, compared to the hotel who caters for business travelers in their home town. The business supplying paper would be classed as a supplier.

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

Business Studies Multiple Choice Question – 22 October 2017

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

Mass marketing is likely to involve?

Select ONE answer:

  1. Job production
  2. Flow production
  3. Low fixed costs
  4. Large market size
  5. Limited distribution

Give a real life example of mass marketing:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 4 – Mass marketing is a market strategy in which a firm decides to ignore market segment differences and appeal to the whole market with one offer. This supports the idea of broadcasting a message that will reach the largest number of people possible. Traditionally mass marketing has focused on radio, television and newspapers as the media used to reach this broad audience. By reaching the largest audience possible, exposure to the product is maximized, and in theory this would directly correlate with a larger number of sales or buys into the product.

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

Business Studies Multiple Choice Question – 21 October 2017

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

A cash cow product in the Boston Matrix?

Select ONE answer:

  1. Has low sales in a slow-growth market
  2. Has low sales in a high-growth market
  3. Has high sales in a slow-growth market
  4. Has high sales in a high-growth market
  5. Has no sales

Give a real-life example of a cash cow product and explain why it is one:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3 – Cash cows are low-growth products with a high market share. These are mature, successful products with relatively little need for investment. They need to be managed for continued profit – so that they continue to generate the strong cash flows that the company needs for its Stars.

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

Business Studies Multiple Choice Question – 20 October 2017

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

Price skimming is NOT likely if?

Select ONE answer:

  1. The firm has a unique product
  2. The firm has a patent for the product
  3. Demand for the good is price elastic
  4. Demand for the good is price inelastic
  5. The firm has a heavily branded good

Explain your answer using diagrams:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3 – Price skimming is a pricing strategy in which a business sets a relatively high initial price for a product or service at first, then lowers the price over time. It is effective only when the firm is facing an inelastic demand curve. If the long run demand schedule is elastic, market equilibrium will be achieved by quantity changes rather than price changes. Penetration pricing is a more suitable strategy in this case.

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

Business Studies Multiple Choice Question – 19 October 2017

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

Price discrimination is …?

Select ONE answer:

  1. Charges the same price for the same goods
  2. Sets a price by adding percentage to costs
  3. Uses a high price to enter a market
  4. Uses a low price to enter a market
  5. Sets different prices for different customers for the same good or service

Give a real-life example of price discrimination:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 5 – Price discrimination is the practice of charging a different price for the same good or service.

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