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Market Research and Customers

Description

Business Studies Test
Beth Thornton
Quiz by Beth Thornton, updated more than 1 year ago
Beth Thornton
Created by Beth Thornton almost 7 years ago
37
1

Resource summary

Question 1

Question
Select an aspect of the Design Mix
Answer
  • Function
  • Packaging

Question 2

Question
Which is true?
Answer
  • The price of an object doesn't make a business any profit.
  • The cheaper price of an object but still high enough to earn the business profit is best.

Question 3

Question
The design mix consist of Function, Cost and Apperance.
Answer
  • True
  • False

Question 4

Question
What is buffer stock?
Answer
  • The point in which no more stock can be held.
  • The minimum amount of stock a business will allow its self to hold.

Question 5

Question
Label each Image with the correct label.
Answer
  • Cash Cows
  • Cask Chicken
  • Problem Child
  • Questions
  • Stars
  • Glow
  • Dog
  • Decline

Question 6

Question
Work out how much profit I have if it cost £10 to make a single chair. I made 10 chairs and sold each one at £23.
Answer
  • £130
  • £230
  • £90

Question 7

Question
Explain, using an example, what is meant by (a) the maximum stock level .
Answer
  • Largest amount of stock the business has decided to keep at any one time
  • Level of current stock at which the business orders new stock

Question 8

Question
At the end of the working day on 1 June, Jollife Metals had 2,000 sheets of metal in stock. By 31 July, this had fallen to 400 sheets. How many metal sheets were in stock at the end of the working day on (a) 1st August; (b) 31st August; (c) 1st November?
Answer
  • (a) 2000
  • (a) 1758
  • (b) 234
  • (b) 400
  • (c) 1978
  • (c) 2000

Question 9

Question
Quality - achieving a minimum standard for a product or service, or a production process, which meets customers’ needs. Is this definition correct?
Answer
  • True
  • False
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