WHO WANTS TO BE A

1. WHO WANTS TO BE A BUSINESS STUDIES MILLIONAIRE!

2. Quit Topics Marketing HRM Production Ownership, organisation and control of business Business Environment Recruitment Finance

3. 50:50 Lifelines Internet Ask the class Questions Name the four elements of the Marketing Mix? Product, price, promotion, place Product, position, park, price A B Product, price, promotion, people Pizza, price, promotion, pizzazz D C

4. Lifelines 50:50 Internet Ask the class Questions Who designed the hierarchy of needs? Abraham Maslow Peter Drucker A B Frederick Herzberg Alan Shearer D C

5. Lifelines 50:50 Internet Ask the class Questions What are the stages in the product life cycle? Introduction, Growth, Maturity, Saturation, Decline Introduction, Surge, Maturity, Boom A B Growth, Maturity, Boom, Bust Boom, Bust, Bang, Wallop D C

6. Lifelines 50:50 Internet Ask the class Questions What is a market segment? A part of a market e.g. age, gender A part of an advertising campaign A B A piece of cake A market stall D C

7. Lifelines 50:50 Internet Ask the class Questions If a company is product orientated, what does it focus on? The advertising of the product The needs of the customer A B The design of the product The needs of the business D C

8. Lifelines 50:50 Internet Ask the class Questions If a company is market orientated, what does it focus on? The advertising of the product The needs of the customer A B The design of the product The needs of the business D C

9. Lifelines 50:50 Internet Ask the class Questions What is desk research? Finding out information using primary data Finding out information using secondary data A B Finding out information using secondary and primary data Doing research on a desk D C

10. Lifelines 50:50 Internet Ask the class Questions What is Field research? Finding out information using primary data Finding out information using secondary data A B Finding out information using secondary and primary data Doing research on a desk D C

11. Lifelines 50:50 Internet Ask the class Questions What is the product mix? The different prices that are used for a product The different types of advertising used A B The different production methods that the business uses The combination of products that a business sells D C

12. Lifelines 50:50 Internet Ask the class Questions What is price skimming or creaming? Selling a product at a high price to get high profits Cutting the price to just break even A B Selling a product at a low price to increase market share Cutting the price so much that a loss is made D C

13. Lifelines 50:50 Internet Ask the class Questions What is cost plus pricing? Setting a price to attain high profits Cutting the price to just break even A B Fixing a price by adding a profit margin to the cost of production Fixing the price to make a loss D C

14. Lifelines 50:50 Internet Ask the class Questions What is penetration pricing? Setting a price to attain high profits Setting a low long term price to gain market share A B Fixing a price by adding a profit margin to the cost of production Setting an initial low price to gain market share D C

15. Lifelines 50:50 Internet Ask the class Questions What does POS stand for? Position of shop Performance of sales A B Point of Sale material Position of Sale material D C

16. Lifelines 50:50 Internet Ask the class Questions What is direct marketing? Goods are advertised directly to the government Goods are advertised directly to stores A B Goods are sold direct to the consumer e.g. telephone calling Goods are sold directly to the stores D C

17. Lifelines 50:50 Internet Ask the class Questions What is the main disadvantage of a sales promotion? It is expensive It doesn’t create brand loyalty A B It produces a long term boost in sales It only produces a short term boost in sales D C

18. 50:50 Lifelines Internet Ask the class Questions What is a PLC? Private limited company Picture limited corporation A B Public limited company Personal limited company D C

19. 50:50 Lifelines Internet Ask the class Questions Who invented ‘Kaizen’? Mosak Nagassaki Massaki Imai A B Josephi Juran George Lucas D C

20. 50:50 Lifelines Internet Ask the class Questions What type of production system is Just in time? A system that delivers products quickly A system that produces low quality products A B A system where stock is delivered only when needed A system where stock is held in great quantity D C

21. 50:50 Lifelines Internet Ask the class Questions What is flow production? One product is made at a time The product is made in batches A B The product is made continuously Only one product is made D C

22. 50:50 Lifelines Internet Ask the class Questions What is TQM? Totally quiet management Total quota management A B Technical Quota Management Total Quality Management D C

23. 50:50 Lifelines Internet Ask the class Questions What is the aim of TQM? To raise production costs To reduce quality A B To have quality built in rather than inspected A way a business can cut it’s workforce D C

24. 50:50 Lifelines Internet Ask the class Questions What is quality assurance meant to do in a business? Prevent defects rather than detect them Detect problems rather than prevent them A B Reduce the quality of the product Cut the costs of production D C

25. 50:50 Lifelines Internet Ask the class Questions What is a quality circle? A group of senior managers who discuss quality A measuring instrument used by inpsectors A B A group of mixed employees who meet to discuss improvements A circle of quality inspectors D C

26. 50:50 Lifelines Internet Ask the class Questions What is ISO 9000? A production target A quality serial identification code A B A standard for the quality of production systems A target to raise motivation in the workplace D C

27. 50:50 Lifelines Internet Ask the class Questions What type of business is the most labour intensive? Building construction site Assembly line for card packing A B The banking sector Computer aided design D C

28. 50:50 Lifelines Internet Ask the class Questions What type of business is the most capital intensive? The NHS Assembly line for card packing A B The banking sector Computer aided design D C

29. 50:50 Lifelines Internet Ask the class Questions What would be the likely effect of technological change in a business? Higher costs involved in production More goods produced at higher quality A B Workers getting unhappier Lower quality goods produced D C

30. 50:50 Lifelines Internet Ask the class Questions What problems would technological change be likely to cause in a business? Training would be easy and cheap to provide Workers would feel their jobs are threatened A B Workers getting happier The technology would be cheap to buy thus a lot would be bought D C

31. 50:50 Lifelines Internet Ask the class Questions Which answer represents an example of an internal economy of scale of a supermarket? Technological breakthrough in supermarkets The price of food from abroad drops A B Government gives a grant to all supermarkets Costs are reduced through being able to buy in bulk D C

32. 50:50 Lifelines Internet Ask the class Questions What is a sole trader? A person who sell soles An individual who has a business with employees A B An individual who owns a business with no employees A person who owns a shoe company D C

33. 50:50 Lifelines Internet Ask the class Questions What advantage is there being a sole trader? Easier to set up than a Ltd company Profits are shared A B Money is easy to raise Employees are paid less D C

34. 50:50 Lifelines Internet Ask the class Questions What does limited liability mean? Shareholders are responsible for all the debts Profits are shared A B Shareholders are limited to the amount of money they can invest Owners are only responsible for the amount of money invested D C

35. 50:50 Lifelines Internet Ask the class Questions What occupation isn’t in the primary sector of the economy? Coalminer Bricklayer A B Farmer Fisherman D C

36. 50:50 Lifelines Internet Ask the class Questions Which option is an advantage of being a PLC? PLC’s can raise finance easily Owner keeps all the profits A B PLC’s have sleeping partners A PLC is cheap to set up D C

37. 50:50 Lifelines Internet Ask the class Questions What is a franchise? A completely new idea for a business A large amount of money A B A business set up under the image of a successful company A business sector of the economy D C

38. 50:50 Lifelines Internet Ask the class Questions What is a holding company? A company that deals in the shipping industry A company that saves money for companies A B A company that supplies cover employees A company that holds majority shares in businesses D C

39. 50:50 Lifelines Internet Ask the class Questions What is the span of control of a manager? The number of computers he has responsibility for The number of employees in his department A B The amount of people he directly manages The amount of money controlled by him D C

40. 50:50 Lifelines Internet Ask the class Questions How many employees are in a narrow span of control? More than 50 less than 100 Less than 7 A B Less than 20 Less than 12 D C

41. 50:50 Lifelines Internet Ask the class Questions Name the disadvantage of a long chain of command? Communication can be bad Communication is excellent A B Organisation is excellent Employees earn less money D C

42. 50:50 Lifelines Internet Ask the class Questions Name an advantage of a hierarchical structure ? Communication can be bad Communication is excellent A B Everybody knows who their boss is Employees earn lots of money D C

43. 50:50 Lifelines Internet Ask the class Questions What does Ltd mean ? Limited company Public limited company A B Large company Lifted company D C

44. 50:50 Lifelines Internet Ask the class Questions In a PLC, who owns the business ? Managers Employees A B Shareholders Government D C

45. 50:50 Lifelines Internet Ask the class Questions Name an advantage of being a PLC? Unlimited liability Limited liability A B Finance is difficult to raise Only one owner D C

46. 50:50 Lifelines Internet Ask the class Questions Name an advantage of a flat structure? There are lots of levels of workers There are lots of managers to give help to everyone A B Employees are given more responsibility and are motivated Employees get paid more D C

47. 50:50 Lifelines Internet Ask the class Questions Which isn’t a short term source of finance? Hire purchase Leasing A B Shares Overdraft D C

48. 50:50 Lifelines Internet Ask the class Questions Which formula is used for current ratio? Current assets Current liabilities Stock Current liabilities A B Current liabilities Current assets Current assets Stock D C

49. 50:50 Lifelines Internet Ask the class Questions Which formula is used for acid test ratio? Current assets - stock Current liabilities Stock+Current assets Current liabilities A B Current liabilities Current assets Current assets Stock D C

50. 50:50 Lifelines Internet Ask the class Questions Which formula is used for ROCE? Net Profit Capital employed Capital employed Net Profit A B Current liabilities Current assets Current assets Stock D C