Year 12 Business Studies study notes and practice questions

For Year 11 and 12 students sitting the HSC, VCE, QCE, SACE, WACE and more. Each unit has short study notes, flashcards and practice questions, and the app builds timed practice exams from the whole course.

• OperationsRole and influences; Operations processes; Operations strategies; Global factors and performance
• MarketingRole and influences; The marketing process; Marketing strategies and the marketing mix; E-marketing and global marketing
• Finance: statements and ratio analysisRole and objectives of financial management; Financial statements; Ratio analysis; Limitations and ethics
• Finance: planning, sources and strategiesSources of finance; Financial institutions and influences; Financial planning and implementation; Financial management strategies
• Human resources: processes and strategiesRole of human resource management; HR processes; HR strategies; Indicators of HR effectiveness
• Human resources: workplace relationsEmployment contracts; The Fair Work system; Other legal obligations; Stakeholders and disputes

4 multiple choice and 2 written questions. Try each one before you open the answer. Written answers show the model answer and what a full-marks response needs.

1. Question 1. OperationsMultiple choice

   Which is a transforming resource?

   1. ARaw materials
   2. BStaff and machinery
   3. CCustomers in a hair salon
   4. DMarket information
   Show answer

   B. Staff and machinery

2. Question 2. MarketingMultiple choice

   Which is the FIRST step of the marketing process?

   1. ADeveloping strategies
   2. BImplementation
   3. CMonitoring and control
   4. DSituational analysis
   Show answer

   D. Situational analysis

3. Question 3. Marketing: marketing strategies and the marketing mix2 marks

   Distinguish between price skimming and penetration pricing.

   Show model answer and marking criteria

   Model answer. Price skimming sets a high price at launch to earn high margins from early adopters, then lowers it as competitors enter. Penetration pricing sets a low price at launch to attract customers and build market share quickly, then may raise it once loyalty is established.

   A full-marks answer:

   • Skimming: high initial price, lowered over time; suits innovative products with early adopters
   • Penetration: low initial price to gain market share quickly; suits competitive markets
4. Question 4. Finance: statements and ratio analysisMultiple choice

   Sales 500, cost of goods sold 300 (thousands of dollars). The gross profit ratio is…

   1. A60%
   2. B66.7%
   3. C40%
   4. D20%
   Show answer

   C. 40%

   (500 − 300) ÷ 500 = 40%.

5. Question 5. Finance: statements and ratio analysis: role and objectives of financial management2 marks

   Distinguish between liquidity and solvency.

   Show model answer and marking criteria

   Model answer. Liquidity is the ability of a business to pay its short-term debts, such as suppliers and wages, when they are due; it is measured by the current ratio. Solvency is the ability to meet long-term commitments such as loans; it is measured by gearing ratios such as debt to equity.

   A full-marks answer:

   • Liquidity: ability to meet short-term debts as they fall due (current ratio)
   • Solvency: ability to meet long-term financial commitments (debt to equity / gearing)
6. Question 6. Finance: planning, sources and strategiesMultiple choice

   Which is an internal source of finance?

   1. ADebentures
   2. BRights issue
   3. CBank overdraft
   4. DRetained profits
   Show answer

   D. Retained profits

A few of the 103 Year 12 Business Studies flashcards. In the app they use spaced repetition: rate each card Again, Hard, Good or Easy and it comes back just before you would forget it.

• OperationsThe business function that transforms inputs into outputs.
• MarketingIdentifying and satisfying customer needs and wants profitably.
• LiquidityThe ability to pay short-term debts as they fall due.
• Retained profitsProfits kept in the business rather than paid as dividends: an internal source of finance.

Business Studies answers need the right terms plus a business example. For each topic, know one or two businesses well enough to apply strategies to them, and build extended responses around the question’s verb: explain, analyse or evaluate.

Press Study for me and the app builds a 15 to 20 minute session from the cards that are due, the mistakes that are due and questions on your weakest topics. Practice questions come in three levels, and anything you get wrong comes back 1, 3 and 7 days later until you get it right. When an exam is close, sit a timed practice exam with AI marking.

Your state, your exam

Business Studies goes by different names around Australia. In the app the course shows under your state’s name: NSW, TAS, ACT: Business Studies; VIC: Business Management; QLD: Business; SA, NT: Business Innovation; WA: Business Management and Enterprise.

When you set up Year 12, you pick your state (NSW, VIC, QLD, SA, WA, TAS, ACT or NT) and your subjects. The AI then pitches explanations and marking at your certificate’s level. Courses differ between states, so compare the units above with your course outline, and turn your class notes into extra decks for anything that’s different.

Business Studies in Year 11

Year 11 Business Studies study notes and practice questions.

More Year 12 courses

Year 12 Maths Advanced, Year 12 Maths Standard, Year 12 English, Year 12 Modern History, Year 12 Biology, Year 12 Chemistry, Year 12 Legal Studies, Year 12 PDHPE. All Year 11–12 subjects.