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QR Challenge: Business Studies HSC Questions 2014-15

QuestionAnswer
In what type of market do wheat farmers sell their products?Resource
During the acquisition stage of the human resources management process what is one thing that need to be developed?A job description
Customers at a furniture store are asked to give their postcodes at the checkout. What is this an example of?Primary research to determine target market
At which stage of the marketing process would a business examine its internal and external influences?When conducting a situational analysis
Which of the following includes two examples of transforming resources?Facilities and human resources
What is a source of new capital for a public company?Primary market of the Australian Securities Exchange
When pricing a potential job, a plumber considers how long the job will take and how difficult it will be. Which pricing method is being used?Cost­based
Which is the best method for managing the stock of fresh milk in a supermarket?First‑in‑first‑out
A business wants to minimise the volume of its waste. Which performance objective is the business trying to achieve?Cost
What is a characteristic of external equity finance?Diluted business ownership
What is an example of a business using performance pay?Sally’s department receives a bonus for meeting its sales target.
What is an example of publicity for a restaurant?A review of the restaurant by a food critic on his blog
The term compliance costs refers to expenses associated with meetinglegal requirements.
What would the focus of a business aiming to reduce expenses?Establishing cost leadership
Why might a business adopt a standardised global approach to marketing?To take advantage of economies of scale
Sally shops at a particular store as she has always received excellent service there. What type of factor is influencing her choice of store?Psychological
A business is planning to increase its market share by merging with a competitor. What financial objective does this best illustrate?Growth
Grievance procedures are used whenemployees have complaints
Name the operations performance objectives?Cost, dependability, quality, speed
A new business is experiencing a rapid increase in sales following a series of positive posts on social media. Which stages of the product life cycle is the business experiencing?Establishment to growth
A car assembly plant had to shut down operations for a day because tyres had not been delivered.What inventory management strategy at the car assembly plant may have caused this situation?Just In Time
A business has shifted from intensive distribution to more selective distribution. What is the most likely reason for this?To reposition products as higher quality
What is the main reason for a business using penetration pricing?To gain short-term market share
An Australian business sells its Bonza Pies in both Australia and China. Bonza Pies sold in China are made to a different recipe. What is this an example of?Customisation and global branding
Work patterns in Australia have changed over the past 20 years.An example of such a change is the decrease infull-time male participation.
What is a reason for a business to use a democratic leadership style?It has experienced, highly skilled employees.
Why would a business choose debentures as a source of funding?To retain ownership and control
What is the most likely result of a business achieving economies of scale?Greater efficiencies in production
What is the most likely impact of a recession on human resources?Decrease in employee bargaining power

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