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Business and Economics Review Quiz

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  • Why do trends affect consumer choices
    People want to fit in
    They reduce advertising
    They lower prices
    They make budgeting easier
  • What is a disadvantage of digital payments
    They are too slow
    They cannot be used in shops
    They always charge high fees
    Not everyone has devices that support them
  • Which factor affects how much a consumer can spend
    Their personal budget
    The weather
    Their favourite colour
    The size of their shopping bag
  • What does break even mean
    A business loses money
    Revenue equals expenses
    The product is sold out
    A business makes extra profit
  • Why might a business raise the price of a product
    To decrease profits
    To improve working conditions for staff
    To cover higher expenses
    To reduce advertising
  • A budget helps people
    Prioritise needs before wants
    Stop shopping completely
    Spend more money than they earn
    Avoid buying groceries
  • What is the main purpose of advertising?
    To compare shops
    To teach people how to make things
    To influence consumers to buy products
    To entertain people
  • A business selling one type of product is likely to
    Not care about profit
    Change what they sell every day
    Sell items at random prices
    Keep track of the cost of producing that product
  • Cookies on websites help businesses
    Target ads to specific users
    Create new websites
    Change your password
    Block pop-up ads
  • Why do businesses advertise during children’s TV shows
    Children never buy anything
    Their target audience is likely watching
    It is the cheapest time slot
    Adults prefer children’s shows
  • Why might a person follow social trends
    To reduce food miles
    To feel included
    To help businesses make profit
    To avoid advertising
  • What is one advantage of using a card for payment
    It always gives change
    No equipment needed
    No fees ever apply
    You don’t need to carry cash
  • What is revenue
    The cost of staff wages
    The money a business earns from selling goods or services
    The number of customers visiting a shop
    The total amount spent on ingredients
  • Why might an advertisement use bright colours and catchy music
    To make the ad harder to remember
    To hide information
    To reduce costs for the business
    To grab the consumer’s attention
  • Why might local shopping be better for the environment
    It increases packaging
    It reduces food miles
    It raises product prices
    It requires long transport routes
  • Why might someone prefer cash payments
    It is the newest technology
    It tracks spending automatically
    It is instant with no fees
    It earns reward points
  • A consumer’s personal preference might be influenced by
    What they enjoy or like
    The weather forecast
    Where the product is stored
    The cost of electricity
  • Which scenario shows peer pressure
    Buying food from a local market
    Paying with cash
    Choosing a toy because friends have it
    Comparing prices online
  • Why do businesses create budgets
    To stop consumers buying wants
    To raise prices
    To avoid paying tax
    To organise how money will be spent
  • Which type of payment requires no device or card
    Credit card
    Debit card
    Cash
    Digital wallet
  • Which option reduces food miles
    Buying frozen foods
    Buying fruit from a local farmers’ market
    Buying strawberries flown in from overseas
    Buying out-of-season produce
  • What influences consumers through repetition and visuals
    Advertising
    Ethical shopping
    Food miles
    Budgeting
  • What are food miles
    The number of items a store sells
    How far food travels from where it was grown
    The distance food travels from store to home
    The cost of transporting food
  • Which of the following is a traditional advertisement
    Instagram post
    Sponsored YouTube video
    TV commercial
    Online pop-up
  • A consumer influenced by ethical factors might
    Choose the cheapest item
    Buy items made under fair working conditions
    Ignore where products come from
    Only buy products online
  • Which of the following is a want not a need
    Shelter
    Ice-cream
    Clothing
    Water
  • What is a need
    Something your friends buy
    Something enjoyable but not necessary
    Something advertised on TV
    Something essential for survival
  • Why does a billboard on a busy highway cost more
    It is smaller
    It uses more electricity
    More people will see it
    It is only used at night
  • Why choose a more expensive eco-friendly product
    It comes with a free toy
    They value sustainability
    It is always more durable
    It always tastes better
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