Show What You Know - A-Level Business Theme 1

Generally, increased competition _____ consumers and _____ businesses.

• Helps, helps

• Helps, hurts

• Hurts, helps

• Hurts, hurts

Which of these would be a source of internal secondary research?

• Focus groups

• Observation

• Company's annual report

• Government publications

In which of these industries would it be most difficult to gain a competitive advantage?

• Smartphone

• Wheat farming

• Yoga studio

• Plumbing

Which of these events would lead to a decrease in demand for Cocoa Puffs cereal?

• Increase in the price of competing cereals

• Increase in the price of milk

• Increase in consumer incomes

• Increase in advertising spending for Cocoa Puffs

Which of these events would cause the supply curve for soda to shift to the left?

• An increase in the price of sugar

• More efficient bottling technology

• Government subsidies for aluminum production

Supply and demand for a good have both increased. What will happen to the equilibrium quantity?

• Increase

• Decrease

• Can't know for sure

Which of these figures would show that demand for a product is price elastic?

• 3.2

• 0.6

• -0.5

• -2.1

Income elasticity of demand for a good is calculated at 0.21. This means that the good is _____ with income _____ demand.

• Normal, elastic

• Normal, inelastic

• Inferior, elastic

• Inferior, inelastic

Which of these would a company try *not* to do if they are considering social trends as they develop their design mix?

• Waste minimisation

• Design for recycling

• Resource depletion

• Ethical sourcing

Which of these would *not* be considered part of 'merchandising?'

• Product layout

• Loyalty cards

• Display materials

• Keeping shelves stocked