Q.1
Which of these is a method of product differentiation?
  • Having a unique selling point
  • Selling a product in multiple territories
  • Introducing a product at a low price
  • All of above
Q.2
What helps to create brand identity?
  • Having multiple products
  • An increase in profits
  • Creating a logo for the company/product
  • Both A & B
Q.3
What is an operating cost?
  • Something a business pays before the company starts
  • Something the company receives
  • Something the company pays for their day to day running
  • Something the company cant afford
Q.4
Start up costs are...
  • the amount of money spent setting up a business
  • money spent on a regular basis to keep a business running
  • Fixed Costs + Variable Costs
  • costs which change with output
Q.5
Which of the following is it OK to leave out of a business plan?
  • Executive summary
  • Location
  • Marketing
  • Employees needed
  • None of the above
Q.6
What is a business plan?
  • Written document that only outlines the business practices of the new business.
  • Written document that describes the financial aspects of the business.
  • Written document that only describes the ownership of the business.
  • Written document that describes all the steps necessary for opening and operating a successful business.
Q.7
Why do you need a business plan?
  • To explain your idea
  • the ability to get financing.
  • it's a road map that sets objectives and goals for the business
  • All of the above
Q.8
All partnerships must be- 50?
  • True
  • False
Q.9
Your business plan should never list any risks or potential problems.
  • True
  • False
Q.10
True or False: Business plans are used by new, rather than established, firms
  • TRUE
  • FALSE
Q.11
Which of the following statements about business plans is TRUE?
  • Business plans eliminate risk to lenders
  • Business plans reduce risk to lenders
  • Business plans increase risk to lenders
  • Business plans have no impact on risk to lenders
Q.12
An entrepreneur is creating a business plan for a new business ; they are including a section on sources of finance. Which of these are appropriate sources of finance to suggest? (Suggest as many as are appropriate)
  • Grant
  • Bank loan
  • Owner savings
  • All of above
Q.13
Which of these pieces of information would NOT be in a business plan put together by a new business?
  • Target market
  • Market research
  • Profit
  • Estimated cashflow
Q.14
A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.
  • Companies, Business
  • Companies, Research
  • Customer, Business
  • Business, Customer
Q.15
What are the solutions to the unemployment?
  • Encourage Entrepreneurship
  • All secondary schools should have active partnerships with employers
  • Earlier Career Guidance
  • All of the above
Q.16
Which one from the above is not the main cause of unemployment?
  • decrease in Population
  • Slow Economic Growth
  • Fall of Cottage and Small industries:
  • slow Growth of Industrialisations
Q.17
What is the unemployment?
  • refers to the person who does not have a job.
  • All people who are not working.
  • Unemployed citizens
  • Unemployment or joblessness is the situation of actively looking for employment but not being currently employed
Q.18
Which places that are most affected by the poverty?
  • Rulal areas
  • Surbubs
  • Urban areas
  • Township
Q.19
How can the poverty be addressed?
  • Create jobs
  • raise a minimum wage
  • Establish work schedules that work
  • All of the above
Q.20
What are the causes of poverty?
  • corruption
  • world hunger
  • Lack of access to education
  • all the above
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