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GCSE Business 1.1
Out of date or not used anymore is called?
How does a business owner limit risk
GCSE Business 1.1
32 terms
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StudBud Administration
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Revision of Unit 1.1
Flashcards
32 cards
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Practice quiz
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Questions
32
Answers
1
How does a business owner limit risk
all of these
business plan
good market knowledge
market research
2
Out of date or not used anymore is called?
Past its sell by date
Out of date
Obsolete
Discontinued
3
Define an Entrepreneur
Del Boy
Makes a business
Creates a business taking on financial risks
Starts a business taking no risks
4
Why is adapting existing products less risky
Equipment already set up
Brand already known
Customer base already exists
all of these
5
There are 4 methods of adding value. USP and Branding are 2. What are the others
best customer service
After care sales
Design quality
Convenience
6
What are the 2 methods new business ideas come about?
Original ideas
Copy competitors
see what customers want
Adapt existing products
7
How many user does Facebook have?
2100M
2000M
2300M
2200M
8
Someone buys and uses good and services is called
User
Buyer
Consumer
Customer
9
What are benefits of using e-commerce?
Reach new markets
Lower costs
Work from home
Trade 24/7
10
No regular wage, no holiday, not knowing when next work will come. Are example of?
Business failure
financial loss
lack of security
11
When the sales price is different from the cost price it is called?
value added
adding value
VAT
profit
12
Who has more users instagram or twitter?
Twitter
Instasgram
13
If a business employees only 1-9 people it is described as?
Small
Micro
Macro
Mini
14
How long will Jackie be in prison for after being convicted of tax evasion?
5-20 years
0-2 years
2-5 years
20 years +
15
A business is defined as large if it employees, how many people?
250+
300+
150+
200+
16
PayPal and Sage are examples of what?
Payment periods
Payment methods
payment merchants
Payment platforms
17
Relating to populations, such as age, income etc is called?
Demographics
Population statistics
Market research
Census
18
What are the rewards for starting you own business
Business success
all of these
profit and wealth
independence
19
Using mobile apps and smartphone for business transactions is called?
M-commerce
E-commerce
Mobile selling
Mobile business
20
What is the role of an entrepreneur
take risks
all of these
Organize resources
make business decisions
21
Moral principles or standards that guide behavior, is called
Ethics
principles
Morals
standards
22
Who is the CEO of Snapchat
Evan Spiegel
Mark Zuckerburg
Steve Jobs
Alan Sugar
23
A logo and slogan are part of a companies what?
branding
identity
ethics
value
24
Possibility an enterprise will have lower than anticipated profits or a loss is called?
Risk
Reward
25
How can a business improve their cash flow
Start up capital
good overdraft
good supplier terms
26
USP stand for
unique selling point
Unique sales point
unique sales patter
unique selling profit
27
When a business runs out of cash it is called
lack of security
financial risk
Business failure
28
Using internet for business transactions is called
Online trading
Internet business
M-commerce
E-commerce
29
Putting money in a business hoping for a profit is called?
Investment
Reward
Return
30
How do new business ideas come about
Change in customer tastes
Original ideas
Technology advancements
31
Websites that user can interact with other users is defined as?
Social Sharing
Social Media
Social Marmite
Social Medium
32
Losing the money you put in is called?
lack of security
Financial loss
Tough Luck
business failure
