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Summary 100 Business quick fire knowledge questions £3.99
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Summary 100 Business quick fire knowledge questions
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This document was created via going through the whole of my A level business notes and making 100 questions to test my knowledge. An example question could be: 'Give three examples of internal finance.' Regularly testing myself on these questions helped me to have a concrete understanding of the c...

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  • Yes
  • August 11, 2021
  • 7
  • 2020/2021
  • Summary

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Business knowledge testing questions
1. Explain two methods of internal finance


2. Explain a benefit and a drawback of using internal finance


3. What’s trade credit?


4. Name a benefit and drawback of trade credit


5. Explain a drawback of using a bank loan as a source of funding


6. Explain how unlimited liability might affect the sources of finance available to the firm


7. What’s a business plan


8. Explain two reasons for sales forecasting


9. What’s the sales revenue formula?


10. Explain one drawback of a breakeven analysis


11. What’s the difference between profit and cash


12. Define batch production


13. Explain a benefit and drawback of flow production


14. Explain two factors affecting productivity (capital/ labour)


15. Explain the different between labour intensive and capital-intensive production


16. Identify a benefit and drawback of capacity under-utilisation

, 17. Define buffer stock


18. Explain two implications of poor stock control (too much/ too little stock)


19. Define lean production


20. Explain Kaizen


21. Explain difference between quality control and quality assurance


22. What’s TQM


23. What’s the business cycle?


24. SPICED meaning


25. Explain a benefit and drawback of inflation


26. What does PESTLE stand for?


27. What does MOPS stand for?


28. Explain perfect v monopolistic v oligopolistic competition


29. What’s Ansoff’s Matrix and the categories?


30. What’s Porter’s strategic mix and the categories?


31. What’s Boston’s Matrix and the categories?


32. Explain strategic v tactical decisions

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