Quiz
F291
Questions in this quiz (25)
1What is a stakeholder?
- AAn individual or group of people who have an interest in a business and what it does
- BAn individual who has bought shares in the business
2What is the private sector?
- AA business that is owned by one/a couple of people and is usually a family business. Only family and friends can buy shares of the business
- BBusinesses that are owned by by a private individual (a member of the public)
3What is the public sector?
- ABusinesses that are owned and controlled by the government on behalf of its citizens. They are funded by the government usually through money raised through taxes
- BBusinesses that are owned by shareholders and can be bought on the stock market
4What is privatisation?
- AThis is when a company that is owned by a private individual is put on the stock market for shareholders to buy.
- BThis is when the government used to own businesses such as gas,water,electricity etc that were therefore in the public sector but were sold back to the private sector
5What is the primary sector?
- ACompanies that are owned by the the government
- BCompanies and people working to extract raw materials from the earth
6What is the secondary sector?
- ABusinesses that are owned by a more than one/ a group of individuals
- BBusinesses that turn raw materials into finished, processed & probably packaged products
7What is the tertiary sector?
- ACompanies and people who provide services either to the public or other businesses
- BCompanies and people working to extract raw materials from the earth
8What is supply?
- AThe quantity of a product consumers are willing and able to purchase at any price level
- BThe quantity that a supplier of a products is willing and able to supply at each level
9Why does price affect supply?
- AIf prices are low then supply is less as it is less profitable
- BIf prices are high then supply is more likely as more profit will be made
10Why does cost affect supply?
- AAs costs become higher there will be a rise in supply as the firm will want to make more money to cover them
- BAs costs become cheaper, there will be a rise in supply as the firm will be able to produce more from its budget
11How do taxes affect supply?
- AAn increase in taxes means an increase in the businesses costs so therefore a decrease in supply
- BAn increase in taxes means an increase in the businesses costs so therefore a increase in supply
12How do government subsidies affect supply?
- AIf the government give businesses a payment for every unit supplied then the business is likely to increase supply
- BIf the government give businesses a payment for every unit supplied then the business is likely to decrease supply
13What happens to the supply curve when supply increases?
- Ait moves to the right
- Bit moves to the left
14What happens to the supply curve when supply decreases?
- ACurve moves to the right
- BCurve moves to the left
15What is demand?
- AThe quantity that a supplier is willing and able to supply at each price
- BThe quantity of a product consumers are willing and able to purchase at any price level
16How does price affect demand?
- AIf price goes down then demand will decrease
- BIf price goes up then demand will decrease
17How will substitute products affect demand?
- AIf substitute prices decrease then demand for your product will decrease
- BIf substitute prices decrease then demand for your product will increase
18How will complimentary products affect demand?
- AIf complimentary products prices increase then demand for your product decreases
- BI complimentary products prices increase then demand for your product will increase
19How will income affect demand?
- AIf your income increases then demand will decrease
- BIf your income increases then demand will increase
20How will promotion affect demand?
- AIf the amount of promotion increases then demand will increase
- BIf the amount of promotion decreases then demand will increase
21How does taste & fashion affect demand?
- AIf a product is in fashion then demand will decrease
- BIf a product is in fashion then demand will increase
22How does wealth affect demand?
- AIf a person has higher wealth then they're will be higher demand
- BIf a person has higher wealth then they're will be lower demand
23What is excess demand?
- AWhere the quantity demanded of a product is greater than the quantity supplied at a given price
- BWhen the quantity supplied of a product is greater then the quantity demanded at a given price.
24What is excess supply?
- AWhen the quantity supplied of a product is greater than the quantity demanded at a given price
- BWhen the quantity demanded of a product is greater than the quantity supplied at a given price
25What is equilibrium?
- AWhen demand is equal to supply
- BWhen demand and supply are not equal
Information
- Description
- Business Quiz on F291, created by hutchinson184 on 18/05/2013.
- Author
- hutchinson184
- Language
- English
- Views
- 76
- Tags
- Rating
- No ratings yet Rate this quiz