Enterprise and Entrepreneurship GCSE Business Quiz
Test your knowledge of Enterprise and Entrepreneurship and Spotting a Business Opportunity with this quiz.
This quiz consists of 15 questions, including multiple-choice and short-answer questions.
For multiple-choice questions, choose the correct answer.
Questions
Why do new business ideas often come about?
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What is the impact of risk on business activity?
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What is meant by the term 'reward' in business?
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What role does business enterprise play in an economy?
It helps meet customer needs by providing goods and services.
Which of the following is the primary purpose of business activity?
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What is the role of an entrepreneur in a business?
To take on the risks and rewards of starting a new business.
What does market research help businesses understand?
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Why is market segmentation important for businesses?
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What is the main purpose of market segmentation?
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What factors can influence the competitive environment in a market?
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Give an example of a risk that a business might face when starting up.
One example could be financial loss due to low sales or unexpected costs.
What might be a potential reward for a business taking risks?
A potential reward could be high profits, business growth, or gaining a competitive advantage.
How can businesses identify customer needs effectively?
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What is a benefit of using market segmentation for a business?
A benefit is that it allows businesses to target specific customer groups, improving marketing efficiency and increasing sales.
What does understanding the competitive environment help a business to do?
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