Which of the following is not a legal requirement for adverts?
- Truthful information
- Accurate descriptions of products and services
- Adverts must be decent
- Must contain the price of the product or service
A business might adapt its products or services to meet the needs of a growing elderly population. This is an example of:
- Demographic influence
- Technological advancement
- Economic factors
- Government regulations
If prices rise faster than customer income…
- … sales of luxury goods will increase
- … customers will have more money to spend on things they need
- … customers will have less to spend on things they want
- … sales of luxury goods will increase
Which type of organisation supports and represents its members and aims to improve their working conditions?
- A board of directors
- Human resources
- Trade union
- Independent collective
Which law requires goods and services to be "fit for purpose"?
- Health and Safety at Work Act (1974)
- Labelling of Food Regulations (1970)
- Consumer Rights Act (2015)
- Weights and Measures Act (1986)
How can a change in consumer preferences impact a business?
- By affecting the quality of products
- By changing the company's organisational structure
- By altering what products or services are in demand
- By influencing employee morale
What is a potential consequence of a company's failure to comply with environmental regulations?
- Increased employee morale
- Improved product quality
- Legal penalties and damage to reputation
- Enhanced brand image
Which is an advantage of trading online?
- Firms adapting to sell online
- Cost of setting up an online store
- Development of new procedures to process online orders
- Wider market reach
Which of the following is not a definition of a "market"?
- A geographical area where buyers and sellers come together to trade
- Competition to sell a certain type of product
- A type of customer demographic
- Offering short-term price reductions to entice customers
How can a business use technology to improve its operations?
- By reducing environmental impact
- By impacting consumer behavior
- By enhancing productivity and efficiency
- By changing employee turnover rates
