stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
GCSE Business Edexcel Unit 3 Flashcards | StudBud
Explore
/
GCSE Business Edexcel Unit 3
GCSE Business Edexcel Unit 3
32 terms
·
StudBud Administration
·
2,022 plays
MCQ and short questions taken from past exam papers.
Flashcards
32 cards
F
Practice quiz
P
Host live
L
Questions
32
Answers
1
Looking at Fig 1 What is phase 3 of the Product Life Cycle called?
Introduction
Decline
Maturity
Growth
2
Which of the following is a cash inflow?
purchasing assets
taking out a bank loan
payments to suppliers
longer credit terms to customers
3
Which is the most likely result of good customer service?
lower margin of safety
Increased repeat purchases
lower profits
increased cash outflows
4
Which is an example of quantitative market research for Tyrells crisps ?
Verbal feedback from retailers on the packaging of the crisp
Consumer opinions on the taste of the new crisps
Figures showing the growth rate of the UK crisp market
A magazine article describing the launch of the new brand
5
Identify where in the Boston Matrix,KFC’s breakfast products were positioned when launched.
Star
Cash Cow
Problem Child
Dog
6
Piece rates are paid according to how many:
hours a worker is employed for
employees a worker is responsible for
years a worker has been employed for
product a worker produces
7
Which is most likely to increase profits of a business if they increase...........
variable costs by more than fixed costs
revenue by more than costs
ticket prices
fixed costs
8
Which is an environmental problem resulting from the activities of a business?
Poor communication
higher costs
Pollution
lower profits
9
Which of the following is the best description of negative cash flow
Revenue is greater than costs
Cash outflow exceeds cash inflow
Cash inflow exceeds cash outflow
Costs are greater than revenue
10
What is meant by the term cash flow?
amount of profit flowing into a business
amount of cash flowing out of a business.
amount of cash flowing in and out of a business
when sales revenue is greater than cost
11
Which of the following is an example of an external source of finance?
Selling assets
Sales revenue
Share capital
Retained profit
12
Which is most likely to be a barrier to effective communication between workers?
Poor customer service
Pressure groups
Use of jargon
De-stocking
13
Which need is represented by Level of in Maslow's Hierarchy of Needs?
Esteem
Security
Self-actualisation
Physical
14
Improving the design mix is most likely to lead to
increased worker motivation
product differentiation
improved stock control
excessive communication
15
Which stage of the PLC were Harry Potter sets most likely to be at by the end of 2012?
introduction
decline
maturity
growth
16
Which one of the following will improve a business's cash flow?
Paying suppliers in cash more quickly
allowing customers longer to pay in cash
raising wages
De-stocking
17
Which best describes the term minimum wage?
a fixed payment per year but paid monthly
a payment made to employees for working extra hours
a payment to an employee for reaching a sales target.
the lowest amount a business can legally pay its employees
18
Which one of the following elements of the marketing mix represents an online retailer?
Place
Price
Product
Promotion
19
Which is most likely to result in immediate improvement in cash flow of a business?
smaller margin of safety
repaying a bank loan
increased productivity
paying suppliers later
20
Product design is most likely to help a business....
reduce productivity
generate quantitative research
improve its organisational structure
differentiate its products
21
KFC’s decision to launch its new breakfast menu in 18 of its outlets is an example of:
market research
customer loyalty
product trial
market research
22
What is the break-even point of this business?
1250
3000
2000
1000
23
What is meant by the term 'pressure group'?
organisation who seek to influence how a business operates
who own a portion of a business
invests in a high risk business
have an influence or interest in the business
24
What is meant by the term export subsidy?
a tax to be paid on a particular class of imports/exports
limit on amount of a good that can be imported/exported
payment given to domestic businesses to encourage exports
a threatened penalty for disobeying a law or rule
25
A business breaks even at the level of output where:
fixed costs = total revenue
total profits= total costs
variable costs = fixed costs
total revenue = total costs
26
What is the level of buffer stock that this business holds?
60
95
25
30
27
Which of the following is an internal source of finance?
an overdraft
selling assets
a stock market fluctuation
a loan from a bank
28
What is meant by the term 'salary'?
payment per unit produced
non-monetary payment such as free membership of a gym
a bonus earned on top of income for achieving a sales target
A fixed payment for work, usually calculated over a year
29
What is meant by the term quality control of a product/service?
philosophy where everyone is responsible
checking it at every stage of production
no faults or problems at all
checking that it meets minimum standard at end of production
30
Which best describes the term productivity?
a number of products made that pass quality control
range of products made by a business
amount of products one worker can make in an hour
total output of a business
31
Which one is most likely to lead to repeat purchase?
market research
loyalty cards
unfriendly staff
higher prices
32
Which one is most likely reasons for the increase in Ryanair's profits?
higher fuel costs
fewer passengers
increasing ticket sales
falling productivity
