Theme 1 Edexcel Business

Theme 1 Edexcel Business

12th Grade

100 Qs

quiz-placeholder

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Theme 1 Edexcel Business

Theme 1 Edexcel Business

Assessment

Quiz

Business

12th Grade

Medium

Created by

Paul Duerden

Used 9+ times

FREE Resource

100 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of mass markets?

Can cater to specific customer needs.

Opportunities for innovation and growth.

Can achieve economies of scale.

Helps in better decision-making.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of niche markets?

Face high competition.

Have limited growth potential.

Requires continuous adaptation and investment.

Can lead to price wars and reduced profit margins.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What defines dynamic markets?

Markets that target a large audience with similar needs.

Markets that focus on a specific segment with unique needs.

Markets that are constantly evolving due to technological advancements, consumer preferences, and competitive pressures.

The influence of competitors on market dynamics, pricing, and consumer choices.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of competition?

Can achieve economies of scale.

Drives innovation and improves quality.

Can cater to specific customer needs.

Helps in better decision-making.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of risk in the context of risk and uncertainty?

The influence of competitors on market dynamics.

Markets that are constantly evolving.

Risk involves known probabilities of outcomes.

Can lead to price wars and reduced profit margins.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of risk and uncertainty in business?

It can lead to high-quality products.

It can impact business stability and planning.

It can increase customer satisfaction.

It can reduce costs.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the focus of product orientation?

Meeting customer needs and preferences.

Collecting new data directly from sources.

Product quality and innovation.

Analyzing existing data collected by others.

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