Business Principles and Locality Application Quiz
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Questions and Answers

Which of the following tools can be used to identify opportunities that a business can leverage?

  • PESTEL analysis
  • SWOT analysis (correct)
  • Break-Even analysis
  • Ratio analysis

    • A business is said to have a competitive advantage when it has a _______.

  • Unique selling proposition (correct)
  • Strong online presence
  • Comprehensive marketing strategy
  • Higher profit margin than its competitors

    • A SWOT analysis can help a business to _______.

  • Develop a comprehensive marketing strategy
  • Identify opportunities to increase revenue (correct)
  • Analyze the competition
  • Determine the break-even point

    • Which of the following is an example of a weakness in a SWOT analysis?

    <p>High employee turnover rate</p> Signup and view all the answers

    A business can use a SWOT analysis to identify _______.

    <p>Its strengths and weaknesses</p> Signup and view all the answers

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