1) When is Customer Care important? a) Before purchase only b) After purchase only c) Before and after purchase d) Before, during and after purchase 2) Internal Factors can impact a business from the inside; what are they? a) Owners, Managers, Employees b) Social, Economic, Competitive c) Staff, Finance, Technology d) Customers, Suppliers, Banks 3) Stakeholders have an... on a business. a) Interest and Influence b) Opinion c) Concern and Arguement d) Interest and Value 4) There are three sectors of the economy... a) Primary, Secondary, Tertiary b) Private, Public, Third c) Primary, Secondary, Public d) Private, Public, Tertiary 5) Businesses that exist in the Public Sector of the Economy have what kind of objectives? a) Profit Maximising b) Social Responsibilty c) Survival d) Growth 6) Which of these is NOT a benefit of having effective customer service? a) Customers leaving you for competitors b) A good public image c) Increased sales/market share d) Satisfied customers 7) There are two types of Stakeholders in a business, they are... a) Intro and Outro b) Indoors and Exposure c) Internal and External d) Indestructible and Explosions 8) 'To be paid a fair wage for the work they do' is the interest of which stakeholder? a) Suppliers b) Owners c) Local Government d) Employees 9) 'To be paid for their products in a reasonable amount of time' is the interest of which stakeholder? a) Suppliers b) Owners c) Local Government d) Employees 10) 'To have a business be successful and make a profit' is the interest of which stakeholder? a) Suppliers b) Owners c) Local Government d) Employees 11) Which of these is NOT a disadvantage of being an Ltd? a) Must be registered with Companies House b) Harder to motivate and control workers c) More capital than Partnerships d) High set up costs 12) There are six External Factors that can affect a business; can you identify the missing three? POLITICAL,...,..., TECHNOLOGICAL,ENVIRONMENTAL,... a) Economic, Social, Competitive b) Environmental, Suppliers, Communication c) Political, Economic, Social d) Economical, Social, Competitors 13) What is the impact of the Political factor on a business? a) They might need to change a product to keep up with changing trends b) Increase staff wages in line with the National Minimum Wage c) They might need to compete with an imitator product d) They could introduce Automation and replace workers 14) What is the impact of the Technological factor on a business? a) They might need to change a product to keep up with changing trends b) Increase staff wages in line with the National Minimum Wage c) They might need to compete with an imitator product d) They could introduce Automation and replace workers
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S3 Business Revision
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