NCEA Level 3 Business Studies Exam
Questions With Correct Answers
Quality |- |CORRECT |ANSWER✔✔-Quality |is |about |meeting |the |needs |and |expectations |of |
customers. |Customers |want |quality |that |is |appropriate |to |the |price |that |they |are |prepared |to |
pay |and |the |level |of |competition |in |the |market.
Aspects |of |Quality |- |CORRECT |ANSWER✔✔-Good |design |- |looks |and |style |
Good |functionality |- |it |does |the |job |well |
Reliable |- |acceptable |level |of |breakdowns |or |failure |
Consistency |
Durable |- |lasts |as |long |as |it |should |
Good |after |sales |service |
Value |for |money
Benefits |of |Quality |- |CORRECT |ANSWER✔✔-Customer |loyalty |- |they |return, |make |repeat |
purchases |and |recommend |the |product |or |service |to |others. |
Strong |brand |reputation |for |quality |
, Retailers |want |to |stock |the |product |
As |the |product |is |perceived |to |be |better |value |for |money, |it |may |command |a |premium |price |
and |will |become |more |price |inelastic |
Fewer |returns |and |replacements |lead |to |reduced |costs |
Attracting |and |retaining |good |staff |
Improved |image |& |reputation, |which |should |result |in |higher |demand, |which |may |in |turn |mean
|
greater |production |volumes |(possibly |providing |better |economies |of |scale) |
Lower |unit |costs |because |of |less |waste |and |rejected |output |
Fewer |customer |complaints |(& |more |satisfied |customers) |
Potentially |higher |selling |prices |(less |need |to |discount)
Poor |Quality |Examples |- |CORRECT |ANSWER✔✔-Product |fails |- |e.g. |a |breakdown |or |
unexpected |wear |and |tear |
Product |does |not |perform |as |promised |(or |what |the |customer |thought |was |promised!) |
Product |is |delivered |late |
Questions With Correct Answers
Quality |- |CORRECT |ANSWER✔✔-Quality |is |about |meeting |the |needs |and |expectations |of |
customers. |Customers |want |quality |that |is |appropriate |to |the |price |that |they |are |prepared |to |
pay |and |the |level |of |competition |in |the |market.
Aspects |of |Quality |- |CORRECT |ANSWER✔✔-Good |design |- |looks |and |style |
Good |functionality |- |it |does |the |job |well |
Reliable |- |acceptable |level |of |breakdowns |or |failure |
Consistency |
Durable |- |lasts |as |long |as |it |should |
Good |after |sales |service |
Value |for |money
Benefits |of |Quality |- |CORRECT |ANSWER✔✔-Customer |loyalty |- |they |return, |make |repeat |
purchases |and |recommend |the |product |or |service |to |others. |
Strong |brand |reputation |for |quality |
, Retailers |want |to |stock |the |product |
As |the |product |is |perceived |to |be |better |value |for |money, |it |may |command |a |premium |price |
and |will |become |more |price |inelastic |
Fewer |returns |and |replacements |lead |to |reduced |costs |
Attracting |and |retaining |good |staff |
Improved |image |& |reputation, |which |should |result |in |higher |demand, |which |may |in |turn |mean
|
greater |production |volumes |(possibly |providing |better |economies |of |scale) |
Lower |unit |costs |because |of |less |waste |and |rejected |output |
Fewer |customer |complaints |(& |more |satisfied |customers) |
Potentially |higher |selling |prices |(less |need |to |discount)
Poor |Quality |Examples |- |CORRECT |ANSWER✔✔-Product |fails |- |e.g. |a |breakdown |or |
unexpected |wear |and |tear |
Product |does |not |perform |as |promised |(or |what |the |customer |thought |was |promised!) |
Product |is |delivered |late |
