Making the Business Effective GCSE Business Quiz
Test your knowledge of Making the Business Effective 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
What is the concept of limited liability?
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Which of the following types of business ownership offers limited liability?
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What is one key feature of a sole trader business?
The owner is personally responsible for the debts of the business.
What is the main advantage of a partnership as a type of business ownership?
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Which of the following is a factor that influences the location of a business?
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Why might a business choose a location close to its target market?
To ensure easy access for customers and improve sales.
What is the marketing mix?
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Which of the following is one of the 4 Ps of the marketing mix?
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Why is price an important element of the marketing mix?
It helps customers decide whether they can afford a product or service.
What is the purpose of a business plan?
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Why is having a business plan important for a new business?
It helps to outline the vision, set clear goals, and secure financing by providing potential investors with a structured plan for the business’s success.
What should be included in a business plan?
A business plan should include an executive summary, market analysis, organisational structure, product or service description, marketing strategies, and financial forecasts.
What is one potential disadvantage of a business choosing a location far from suppliers?
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What role does ‘promotion’ play in the marketing mix?
It helps to communicate the product’s benefits to customers and increase sales.
Why is it important for a business to plan its activities in advance?
Planning helps businesses set clear goals, allocate resources effectively, reduce risks, and anticipate challenges, ensuring the business can operate smoothly and achieve its objectives.
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