Tag: Business Studies

Business Studies Multiple Choice Question – 17 February 2018

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

Which ONE of the following are examples of how entrepreneurs can use market mapping?

Select ONE answer only:

  1. To identify market prices
  2. To identify the location of competitor businesses
  3. To identify where competing products fall across two dimensions
  4. To identify the best location for a new business
  5. To advertise to customers where the business is located

Explain one disadvantage to a business of using a market map?

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

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

The answer is 3 – Market mapping is used to illustrate where existing products in a market fall in relation to two variables considered important to customers. These variables are two-dimensional (eg high price versus low price, high quality versus low quality) and form the X and Y axis on the map. Once existing products in a particular market have been plotted, potential gaps in the market can be identified.

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Business Studies Multiple Choice Question – 16 February 2018

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

Which ONE of the following are examples of how entrepreneurs can use market mapping?

Select ONE answer only:

  1. To identify a gap in the market
  2. To identify where competing products fall across four dimensions
  3. To identify the location of competitor businesses
  4. To identify the best location for a new business
  5. To advertise to customers where the business is located

Explain one benefit to a business of using a market map?

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

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

The answer is 1 – Market mapping is used to illustrate where existing products in a market fall in relation to two variables considered important to customers. These variables are two-dimensional (eg high price versus low price, high quality versus low quality) and form the X and Y axis on the map. Once existing products in a particular market have been plotted, potential gaps in the market can be identified.

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

Business Studies Multiple Choice Question – 15 February 2018

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

Which ONE of the following is the correct definition of ‘branding’ in a business context?

Select ONE answer only:

  1. Sales staff presenting the benefits of a product to potential customers
  2. Giving a product a distinctive name to make it stand out from other products
  3. Making a mark on a product with a hot iron
  4. Communicating with customers about products through the mail
  5. Communicating with customers about products through social media

Explain one advantage to a business of investing in “branding” its products?

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

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

The answer is 2 – Branding is a form of promotion which aims to enhance a product’s value. Option A and D are also types of promotion, but A is personal selling, and D is direct mail. Option C is a definition of branding, but not in the business sense!

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Business Studies Multiple Choice Question – 2 February 2018

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

Which ONE of the following is the correct definition of inflation

Select ONE answer only:

  1. The price of one currency in relation to another
  2. The cost of borrowing and the reward for saving
  3. The continuous and sustained rise in the general level of prices
  4. A fee on income, property or goods, payable to the government
  5. High investment in local events

What is a likely objective of a business’s suppliers?

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

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

The answer is 3 – Option 1 is a definition of exchange rates.  Option 2 defines interest rates.  Option 3 is a definition of inflation.  Option 4 is the definition of taxation.

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Business Studies Multiple Choice Question – 1 February 2018

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

Which ONE of the following is the correct definition of interest rates?

Select ONE answer only:

  1. The price of one currency in relation to another
  2. The cost of borrowing and the reward for saving
  3. The continuous and sustained rise in the general level of prices
  4. A fee on income, property or goods, payable to the government
  5. High investment in local events

What is a likely objective of a business’s pressure groups?

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

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

The answer is 2 – Option 1 is a definition of exchange rates.  Option 2 defines interest rates.  Option 3 is a definition of inflation.  Option 4 is the definition of taxation.

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