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Y11 ENTERPRISE BASELINE QUESTIONS & ANSWERS – SEPTEMBER 2021

Q1. When a product / service becomes out of date or not used anymore it…..

A. Forgotten
B. Obsolete
C. Obtained
D. Consumed
Q2. Entrepreneurial activity which can also mean a business or company…

A. Entertaining
B. Enterprise
C. Business-like
D. SMART
Q3. Using the internet to carry out business transactions is known as ... ?
A. M – Commerce
B. E – Commerce
C. I – Commerce
D. Social Media
Q4. If businesses are selling similar products / services, they are known as…

A. Friends
B. Consumers
C. Competitors
D. Customers
Q5. Why do new business ideas come about? Choose as many as you think.

A. Advances in technology
B. Changes in what consumers want
C. Products & services becoming obsolete
D. Social Media
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Q6. Data relating to ages, incomes, religions, etc. is known as ... ?

A. Data
B. Information
C. Demographic
D. Details
Q7. The nature of business is very dynamic which means that it is ...

A. Always changing
B. Constantly dying out
C. Always the same
D. Constantly costly
Q8. The amount that customers want and can afford to buy is known as…

A. Allowance
B. Demand
C. Income
D. Needs
Q9. USP stands for ... ?

A. Unique Styling Position

B. Unique Selling Point
C. Uniform Selling Position
D. Uniform Styling Point
Q10. Which is the odd one out? Why?

A. Business failure
B. Independence
C. Financial Loss
D. Lack of security
Q11. The balance between the best and worst that can happen is known as...?
A. Risk and Reward
B. Rest and Relaxation
C. Ruin and Retention
D. Reap and Rely
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Q12. If something can be touched it is said to be... ?

A. Tangible
B. Intangible
C. A Good
D. A Service
Q13. Which of the following is NOT an example of a customer need?

A. Water
B. Phone
C. Food
D. Heating
Q14. The difference between the cost of materials and the selling price is…
A. Profit
B. Revenue
C. Break-Even
D. Added Value
Q15. Which cannot be used by a business when adding value?

A. Good design / quality

B. Convenience
C. Branding
D. Demand
Q16. Qualities of an entrepreneur usually do not include being:

A. A Risk Taker
B. Organised
C. Rich
D. Decision Maker
Q17. A new business idea will usually fill a ______ in the market?

A. Business
B. Gap
C. Idea
D. Customer
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Q18. A business which sells (or supplies) products to another business...

A. Consumer
B. Markets
C. Customer
D. Supplier
Q19. Where buyers and sellers meet to exchange goods and services...
A. Competition
B. Market
C. Production
D. Business
Q20. A gap in the market occurs when no business is currently…
A. Serving the needs of customers for a particular product
B. Making enough profit
C. Large enough to expand
D. Making enough sales

End of baseline questions