Competitive Markets Post-Holiday Recap

A colorful and informative illustration representing different stages of business growth, market strategies, and economic concepts, with symbols like graphs, charts, and a globe.

Competitive Markets Post-Holiday Recap Quiz

Test your knowledge on competitive markets and business growth strategies with our engaging quiz! Dive deep into the stages of the business life cycle, explore growth strategies like the Ansoff matrix, and understand the significance of market expansion.

Multiple choice and checkbox questions
Covering key concepts in marketing and economics
Ideal for students, professionals, and anyone interested in business

25 Questions6 MinutesCreated by GrowingEconomy42

When a business has fully captured its market, can no longer grow in its current state or has hit the peak of its market, it is in what stage of the business life cycle?

Complete the missing growth strategies in the Ansoff matrix (pictured).

	Diversification	Market Penetration	Product Development	Market Development
Existing Product & Existing Market =
Existing Product & New Market =
New Product & New Market =
New Product & Existing Market =

If St Paul's School decided to establish a new campus but in Sydney, its growth strategy would be:

Market Penetration

Market Development

Product Development

Diversification

If St Paul's School wanted to open its own trade college (for apprenticeships) on-site at Bald Hills, its growth strategy would be:

Market Penetration

Market Development

Product Development

Diversification

There are two types of growth - horizontal and vertical.

True

False

Horizontal growth is when a business focuses on existing customers.

True

False

Explain why a business in the maturity stage would choose to expand.

What is GDP?

Short for Gross Domestic Product

The total value of all goods and services produced within a country during a specific period.

A country's best measure of overall economic strength.

A sum calculated by totalling a nation's earnings or spending.

The following countries are examples of emerging markets:

Australia, UK & USA

Brazil, Chile & Mexico

A Free Trade Agreement is:

When two countries decide it won't cost any money to sell their products to each other.

An international treaty between two or more economies that reduces or eliminates certain barriers to trade in goods and services, as well as investment.

The Federal government department overseeing foreign, trade and development policy is the:

Department of Trade and Investment

Department of Foreign Exchange

Department of Foreign Affairs

Department of Foreign Affairs and Trade

The Federal government agency responsible for promoting Australian businesses and assisting them in connecting to global economies is the:

Australian Trade Commission

Australian Foreign Trade Commission

Australian Business Commission

Australian Trade Association

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