10 Business Studies Review for Quiz 1

It refers to the areas of knowledge, understanding and skills that students will be assessed on.

• Command words

• Evaluation

• Assessment objectives

• Application

Which of the following is NOT part of the group?

• Knowledge

• Analysis

• Justify

• Application

This command word is asking you to clearly give the precise meaning of a business term.

• Define

• Identify

• Justify

• Calculate

AO4 is also known as__________

It refers to a management process of anticipating, understanding  and satisfying customer needs at a profit.

• Market

• Opportunity cost

• Scarcity

• Marketing

Which DOES NOT belong to the group?

• Maintain customer loyalty

• Identify customer needs

• Satisfy customer needs

• Ignore information about customers

Match the following

• AO4 - Evaluation

• Identify

• AO2 - Application

• Justify

• AO3 - Analysis

• Calculate

• AO1 - Knowledge

• Explain

How many marks are allotted for the command word 'define'?​ ​ (a)  

• 1mark
• 2marks
• 3marks
• 4marks
• 6marks

It is where buyers and sellers come together and exchange their products for money

An organization that provides goods and services that consumers want for profit.