AS BUSINESS

Exam Practice
Knowledge Test
• (a) Define the term ‘opportunity cost’. [2]​
•  (a) Define the term ‘leadership’. [2]
• (a) Define the term ‘motivation’. [2]
• (a) Define the term ‘workforce planning’. [2]
• (a) Define the term ‘contract of employment’. [2]
• (a) Define the term ‘redundancy’. [2]
• (a) Define the term ‘training’. [2]
• (a) Define the term ‘customer (market) orientation’. [2]
•  (a) Define the term ‘market segmentation’. [2
Continued
• (b) Explain one reason why many new businesses fail in their first ye
ar of operation. [3]
• (b) Explain one advantage that a business in the public sector may ha
ve that a business in the private sector may not. [3]
• (b) Explain one benefit to a business of having motivated employees.
[3]
• (b) Explain one benefit to a business of workforce planning. [3]
• (b) Explain one advantage to an employer of using a person specifica
tion. [3]
• (b) Explain one advantage to employees of having a contract of empl
oyment. [3]
• (b) Explain one benefit to a business of training employees. [3]
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5 – Mark Question
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