Quiz: The Competitive Environment
WJEC GCSE Business (00/1155/5)
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Welcome! In this session, we’ll build on your knowledge of business activity and customer needs by exploring the competitive environment. Let’s test your understanding!
What does 'competitive environment' refer to in business?
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Which of the following factors can impact competition? (Select all that apply)
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Businesses need to understand their {{blank0}} to stay competitive, which includes analysing {{blank1}} trends.
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Match the items on the left with their correct pairs on the right
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A company sells a product for £50 and has £30 in costs per product. How much profit do they make per product?
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Why is innovation important in a competitive environment?
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Which of the following are ways businesses can outperform competitors? (Select all that apply)
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A business can differentiate itself by offering products with {{blank0}} features or providing {{blank1}} customer service.
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Match the items on the left with their correct pairs on the right
What is the main benefit of understanding your competitors?
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