Share Business and Economics Review Quiz
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What is the main purpose of advertising?
To teach people how to make things
To influence consumers to buy products
To compare shops
To entertain people
Which of the following is a want not a need
Ice-cream
Shelter
Water
Clothing
Why do businesses create budgets
To raise prices
To avoid paying tax
To stop consumers buying wants
To organise how money will be spent
Which type of payment requires no device or card
Credit card
Debit card
Digital wallet
Cash
Why might a person follow social trends
To feel included
To help businesses make profit
To avoid advertising
To reduce food miles
A consumer influenced by ethical factors might
Choose the cheapest item
Only buy products online
Ignore where products come from
Buy items made under fair working conditions
Cookies on websites help businesses
Target ads to specific users
Create new websites
Block pop-up ads
Change your password
Why does a billboard on a busy highway cost more
It uses more electricity
More people will see it
It is smaller
It is only used at night
Which of the following is a traditional advertisement
Sponsored YouTube video
TV commercial
Online pop-up
Instagram post
What does break even mean
A business makes extra profit
Revenue equals expenses
A business loses money
The product is sold out
What is one advantage of using a card for payment
It always gives change
No fees ever apply
No equipment needed
You don’t need to carry cash
Why might an advertisement use bright colours and catchy music
To reduce costs for the business
To hide information
To make the ad harder to remember
To grab the consumer’s attention
A budget helps people
Stop shopping completely
Spend more money than they earn
Avoid buying groceries
Prioritise needs before wants
Which option reduces food miles
Buying strawberries flown in from overseas
Buying fruit from a local farmers’ market
Buying out-of-season produce
Buying frozen foods
What is a disadvantage of digital payments
They are too slow
Not everyone has devices that support them
They always charge high fees
They cannot be used in shops
Why might a business raise the price of a product
To cover higher expenses
To reduce advertising
To decrease profits
To improve working conditions for staff
