2.4.2 - Understanding business performance

A travel business has decided to increase the selling price of a standard 7-night package holiday from £405 to £450 per person. Which of the following is the correct percentage increase in selling price per person?

• 10%

• 11.11%

• 90%

• 91.11%

The pie chart below shows information about five businesses that operate in the same market. The total market is valued at £5,000,000.

Based on this information, the value of the market held by Business B is:

• £300,000

• £900,000

• £1,400,000

• £1,600,000

A business gathers information regarding the population size of a specific area. Which of the following best describes the information collected?

• Marketing data

• Market data

• Financial data

• Financial information

The graph below shows the increase in cars sales experienced by a second-hand car garage between last year and this year:

Which of the following is the correct percentage increase in the number of second-hand cars sold by the garage between last year and this year?

• 11.76%

• 13.33%

• 88.24%

• 113.33%

The table below shows the annual sales revenue for Fred’s Restaurant and the total yearly sales revenue for the restaurant market in which Fred’s operates:

The table below shows the annual sales revenue for Fred’s Restaurant and the total yearly sales revenue for the restaurant market in which Fred’s operates:

Yearly sales revenue (£s)

Fred’s Restaurant 300,000

Total restaurant market 1,750,000

Based on this information, Fred’s Restaurant market share is:

• 14.63%

• 17.14%

• 82.86%

• 85.37%

A business has conducted some market research into a suitable selling price that should be charged for product X. The results are shown below:

Based on the information above only, which price would be the most appropriate for the business to charge for product X?

• £1.00

• £2.50

• £3.05

• £4.75

Last year a business had total costs of £235,000. This year the business experienced an 8% increase in total costs. Which of the following is the business’s total cost figure for this year?

• £216,200

• £234,992

• £235,008

• £253,800

The table below shows the number of surfboards sold by a business over an 8 week period.

Based on this information, which of the following is the average weekly number of surfboards sold by the business?

• 0.31

• 3.25

• 3.71

• 4.5

Which of the following is a problem that a business may experience when using financial data to make decisions? Figures are:

• Reliable

• Unbiased

• Accurate

• Out of date

Which of the following is an example of marketing data?

• The level of unemployment in the UK

• Total spending on bicycles in Spain

• The sales figures of a business

• Total size of the UK cosmetics market