Tag: A-Level

Economics Multiple Choice Question – 24 September 2017

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

The diagram shows a production possibility frontier (PPF) for an economy.

Diagram 01

The opportunity cost of a movement from point X to point Y is:

Select ONE answer:

  1. 10 units of consumer goods
  2. 20 units of capital goods
  3. 30 units of capital goods
  4. 80 units of capital goods
  5. 90 units of consumer goods

Define the term ‘production possibility frontier’:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3 – By moving from point X to point Y, and extra 10 units of consumer goods have been produced at an opportunity cost of 30 units of capital goods as at Z they can produce 80 capital goods but only 50 capital goods at Y.

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Economics Multiple Choice Question – 23 September 2017

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

Which ONE of the following best describes the two statements below?

  • Statement 1: The UK government increased education spending from £87 billion in 2012 to £88 billion in 2013.
  • Statement 2: The government should allocate an additional £2 billion to schools to improve the quality of education.

Select ONE answer:

Statement 1               Statement 2

  1. Positive                    Positive
  2. Positive                    Normative
  3. Normative               Positive
  4. Normative               Normative
  5. Definite                    Normative

 

With reference to the statements above explain what is meant by external benefits in relation to Education.

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

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

The answer is 2 – Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. Normative economic statements are opinion based so they cannot be proved or disproved. Statement 1 is fact based, whilst statement 2 is an opinion (use of the word ‘should’ in the sentence).

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Business Studies Multiple Choice Question – 12 September 2017

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

The two axes of the product life cycle are?

Select ONE answer:

  1. Time and sales
  2. Time and unit costs
  3. Unit costs and price
  4. Price and sales
  5. Product and prices

How can sales be measured:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1 – All graphs have an x-axis and a y-axis. The point (0,0) is called the origin. The horizontal axis is the x-axis which is TIME. The vertical axis is the y-axis which is SALES.

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Business Studies Multiple Choice Question – 11 September 2017

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

The stages of the product life cycle, in order, are?

Select ONE answer:

  1. Maturity, saturation, growth, introduction
  2. Introduction, growth, maturity, decline
  3. Decline, saturation, development, growth
  4. Introduction, growth, decline, maturity
  5. Introduction, decline, maturity, saturation

Give an example of a real-life product (a) in the introduction phase and (b) in the maturity phase of the product life cycle:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2 – There are four stages in the product life cycle: introduction, growth, maturity, and decline.

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Business Studies Multiple Choice Question – 10 September 2017

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

A marketing strategy is?

 

Select ONE answer:

  1. A marketing target
  2. A long-run marketing plan
  3. A marketing goal
  4. A short-term plan

A corporate mission statement

Give an example of a marketing strategy:
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2 – A Start up or a company’s strategy combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the product mix in order to achieve the maximum profit and sustain the business. The marketing strategy is the foundation of a marketing plan.

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