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AQA AS Level Business: What is Business?

M Bathard 11 questions 4.0 (1 rating)

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  1. 1What is Business?
    Business includes trading [blank_start]goods[blank_end] or [blank_start]services[blank_end] between individuals and companies. It is the investement of time and money to turn an idea into reality. It can also mean making a [blank_start]profit[blank_end] (or a loss).
    1. Agoods
    2. Bideas
    3. Cqualifications
    4. Dobjectives
    5. Eservices
    6. Ftime
    7. Gmoney
    8. Hconversations
    9. Iprofit
    10. Jcompany
    11. Kpresent
    12. Lproduct
  2. 2Why do businesses exist?
    1. Amoney/profit
    2. BFairtrade
    3. Csocial welfare
    4. Dto create jobs
    5. Eto pay more tax
    6. Fto create competition with a rival
  3. 3Label this diagram of the Hierarchy of ObjectivesImage for question 3
    1. AIndividual
    2. BTeam
    3. CFunctional
    4. DCorporate
    5. EMission
    6. FMost Strategic
    7. GMost Detailed
  4. 4What are the four main objectives of a bsuiness?
    1. Aprofit (maximisation/optimisation)
    2. Bgrowth
    3. Csurvival
    4. Dto learn another language
    5. Esocial and ethical
    6. Fto pay more taxes
  5. 5Why do businesses set objectives?

    They may set objectives in order to [blank_start]motivate[blank_end] their staff or to act as a reason for continued [blank_start]perseverance[blank_end]. Some objectives can [blank_start]empower[blank_end] staff, and give employees assurance. Objectives can give a sense of [blank_start]direction[blank_end] and can make it easier to [blank_start]communicate[blank_end] within the business - the leaders cannot [blank_start]control[blank_end] every decision made.
    1. Amotivate
    2. Bperseverance
    3. Cempower
    4. Ddirection
    5. Ecommunicate
    6. Fcontrol
  6. 6Explain the relationship between the mission and objectives?

    The [blank_start]mission[blank_end] is the overall aim of the organisation. Once this has been agreed upon, the objectives of the [blank_start]business[blank_end], the [blank_start]functions[blank_end] and the [blank_start]individuals[blank_end] can then be set. The mission will be [blank_start]vague[blank_end], as all of the other objectives in the business build [blank_start]towards[blank_end] achieving it, and it still has to [blank_start]relate[blank_end] to all of them.
    1. Amission
    2. Bbusiness
    3. Cfunctions
    4. Dindividuals
    5. Evague
    6. Ftowards
    7. Grelate
  7. 7When might survival be an important business objective?

    Survival would be an important objective to have in all situations, but especially when the economy is experiencing a [blank_start]downturn[blank_end] or a recession. If the country's economy is slowing down, them people ([blank_start]consumers[blank_end]) are less likely to spend money. This then leads to a [blank_start]decline[blank_end] in sales, and then consequently [blank_start]decreased[blank_end] revenue. Survival requires the company to be able to pay its creditors, and still have enough to meet all of their [blank_start]costs[blank_end]. When revenue decreases, so does the chances of [blank_start]survaival[blank_end] - this would be a very important period to keep going.
    1. Adownturn
    2. Bconsumers
    3. Cdecline
    4. Ddecreased
    5. Ecosts
    6. Fsurvaival
  8. 8What is the definition of 'Profit Maximisstion'?
    1. Awhen a business tries to achieve the maximum profit with low running/production costs
    2. Bwhen a business tries to find an alternative with the most cost effective/ highest achievable performance under given constraints
    3. Cimproving some measure of the business' success e.g. sales figures, revenue, or profit
  9. 9What is the definition of 'Profit Optimisation'?
    1. AWhen a business tries to find an alternative with the most cost effective/highest achievable performance under given constraints
    2. BThe money in and out of a business
    3. CImproving some measure of the business’ success e.g. sales figures, revenue or profit
  10. 10What is the definition of 'Business Growth'?
    1. AImproving some measure of the business’ success e.g. sales figures, revenue or profit
    2. BThe money in and out of a business
    3. CWhen a business tries to achieve the maximum profit with low running costs

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Description
AQA AS Level Business quiz on the first section 'What is Business?'
Author
M Bathard
Language
English
Views
187
Rating
4.0 out of 5 · 1 rating
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