Lesson 3.4.1
3.4.1 Physical and non-physical markets Quiz: OCR Business, Unit 3
20 questions
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Lesson 3.4.1, Physical and non-physical markets: 20 multiple choice questions for the OCR Business (H431), Unit 3: External influences, written with Revision Ninja.
Host it live on the board and students join with a game code on their own devices, or revise alone with Free Play. The answers are revealed in the game.
The 20 questions
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Which feature best defines a physical market compared to a non-physical market?
- Algorithmic pricing
- Global reach
- Face-to-face interaction
- 24/7 operating hours
-
Which term describes a retailer that operates exclusively online without physical stores?
- Franchise
- Pure-play
- Omnichannel
- Clicks-and-bricks
-
What is a major financial advantage for businesses operating in non-physical markets?
- Guaranteed profit margins
- Higher retail rents
- Lower overhead costs
- Lower digital fraud
-
Which consumer behaviour involves inspecting products in a physical store then buying them online?
- Panicking
- Impulse buying
- Showrooming
- Webrooming
-
What is the term for researching products online before purchasing them in a physical store?
- Outsourcing
- Webrooming
- Crowdsourcing
- Showrooming
-
Which strategy combines both physical retail stores and an online presence?
- Pure-play
- Direct selling
- Wholesaling
- Clicks-and-bricks
-
Which advantage do physical markets provide to consumers compared to non-physical markets?
- 24/7 access
- Immediate product ownership
- Global price comparisons
- Unlimited inventory choice
-
What form of trading occurs when commercial transactions take place specifically via mobile devices?
- M-commerce
- B2B commerce
- Direct mail
- Physical retailing
-
Which cost is typically higher for a business operating in a physical market?
- Server maintenance
- Digital marketing
- Business rates
- Website hosting
-
Why might consumers prefer buying clothing in a physical market rather than online?
- Tactile inspection
- Broader product range
- Cheaper delivery options
- Lower travel costs
-
What enables non-physical businesses to adjust prices instantly based on real-time market demand?
- Penetration pricing
- Dynamic pricing
- Cost-plus pricing
- Psychological pricing
-
Which risk is specifically associated with selling goods through a non-physical market?
- Cybersecurity breaches
- High counter theft
- Store property damage
- High shoplifting rate
-
An electronics store closes physical branches to sell solely online. Which model is it adopting?
- Physical model
- Franchise model
- Pure-play model
- Omnichannel model
-
Which market type allows businesses to easily reach international customers without local physical stores?
- Local market
- Traditional market
- Non-physical market
- Physical market
-
A customer buys groceries using a smartphone application. What type of market is this?
- Wholesale market
- Physical market
- Commodity exchange
- Non-physical market
-
What main operational benefit do non-physical markets offer regarding operating hours?
- Restricted Sunday hours
- Bank holiday closures
- Fixed trading hours
- Continuous availability
-
A bookshop opens an e-commerce website to complement its physical store. What is this called?
- Omnichannel retailing
- Niche retailing
- Pure-play retailing
- Offshore retailing
-
A business trades components electronically with another business. What market interaction is this?
- B2G physical
- B2B non-physical
- B2C physical
- C2C physical
-
What inventory strategy is easier for non-physical businesses using centralized distribution hubs?
- Centralised stock holding
- De-centralised store stock
- High retail display
- Over-the-counter stock
-
What term describes removing intermediaries from the distribution channel when selling via non-physical markets?
- Disintermediation
- Diversification
- Vertical integration
- Reintermediation
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