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Unit 11- The marketing environment

Description

AS - Level Business studies (Unit 11- The Marketing Environment) Quiz on Unit 11- The marketing environment, created by Dan Peachey on 05/11/2017.
Dan Peachey
Quiz by Dan Peachey, updated more than 1 year ago
Dan Peachey
Created by Dan Peachey over 5 years ago
14
1

Resource summary

Question 1

Question
Giving you the actual figures, so you can make a comparison
Answer
  • Relative numbers
  • Absolute numbers
  • Index numbers

Question 2

Question
When the figures are not shown, but you can see how the values relate to each other- Index numbers
Answer
  • True
  • False

Question 3

Question
Tabulated data: When you have worked out the mean, [blank_start]median[blank_end], mode, range and the [blank_start]average[blank_end] of the numbers
Answer
  • Average
  • Range
  • Table
  • Index
  • Mean
  • Mode
  • Table
  • Median

Question 4

Question
Index numbers: They give the researcher a picture of the [blank_start]average[blank_end] change in a group of variables over time
Answer
  • Relative
  • Absolute
  • Average

Question 5

Question
Many businesses complying to supply goods to numerous consumers. sometimes called 'price takers'. E.g. fruit and vegetable markets
Answer
  • Monopolistic competition
  • Perfect competition
  • Oligopoly competition
  • Monopoly competition

Question 6

Question
[blank_start]Oligopoly[blank_end] competition: A few large dominant businesses- each business knows that its actions will affect other businesses. E.g. Motor vehicle manufacturing and food
Answer
  • Oligopoly

Question 7

Question
Monopoly competition: A market in which only one business operates. The business has significant control and power to set prices. E.g. internet, landline and water providers
Answer
  • True
  • False

Question 8

Question
What types of integration are used in business?
Answer
  • Horizontal integration
  • Left integration
  • Right integration
  • Diversification
  • Forwards vertical integration
  • Backwards vertical integration
  • Side integration

Question 9

Question
Increasing the sales of an existing product in its current market and taking sales away from competition
Answer
  • Product development
  • Diversification
  • Market development
  • Market penetration

Question 10

Question
Entering new markets with new products is known as?
Answer
  • Diversification
  • Market development
  • Product development
  • Market penetration

Question 11

Question
The dominant company in the market- usually the firm with the highest sales- Market leader
Answer
  • True
  • False

Question 12

Question
Market Followers- These are firms that seek a 'quiet life'- knowing that they lack the size or drive to become market [blank_start]leader[blank_end], they often seek to make enough profit to survive.
Answer
  • Leader
  • Challenger
  • Nicher
  • Follower

Question 13

Question
Market [blank_start]nicher[blank_end]- Smaller, but sometimes very profitable businesses that operate in a narrowly defined segment of the market
Answer
  • nicher

Question 14

Question
Which of these taxes is added to the price of most products before purchase?
Answer
  • Value added tax (VAT)
  • Corporation tax
  • Income tax
  • National insurance tax

Question 15

Question
The rate at which the general level of prices for goods and services is rising, and consequently, the purchasing power of currency is falling
Answer
  • Exchange rates
  • Interest rates
  • Inflation

Question 16

Question
What is the current interest rate? (the interest rate being the cost of borrowing money)
Answer
  • 0.5%
  • 1.5%
  • 2%

Question 17

Question
These involve quotes and tariffs that come into operation when the UK trades with countries outside of the [blank_start]EU[blank_end]
Answer
  • EU
  • UK
  • US

Question 18

Question
The sales of goods act- This states that goods must be of merchantable quality, [blank_start]fit for purpose[blank_end] and as described by the manufacturer
Answer
  • fit for purpose

Question 19

Question
Office of [blank_start]fair[blank_end] trading- This agency oversees consumer protection in the UK on a national level- offering advice to consumers and where necessary, prosecuting companies that are thought to be adopting unfair practices.
Answer
  • Fair
  • Correct
  • Equal
  • Just

Question 20

Question
Which company monitors all advertisement media, except that on television and radio- to ensure that it is 'legal, decent, honest and truthful'.
Answer
  • Advertisements Standards Authority (ASA)
  • Office of Fair Trading
  • The Independent Television Commission (ITC)
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