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A level Edexcel Business Theme One Flashcards | StudBud
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A level Edexcel Business Theme One
A level Edexcel Business Theme One
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Edexcel business questions for A Level on all of theme one with concise and accurate answers.
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Questions
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Answers
1
What option is an example of a competitive advantage in a market?
Having lots of products that are all similar to what others present
Standard concepts and designs
Mimicking other companys
Unique characteristics and style
2
Product differentiation is the process of distinguishing a product or service from others
False
True
3
Taxation is a charge placed by governments to finance their spending
True
False
4
What does profit equal?
Costs - Revenue
Costs + Revenue
Revenue + costs
Revenue - costs
5
What is a niche market?
the market for goods that are produced in large quantities
an area or arena in which commercial dealings are conducted
a small, specialized market for a particular product or service
a place where unique things are sold
6
What is not a purpose of market research
Identify customer wants and needs
Inform business decisions
Indentify gaps in the market
Increase risk of product development
7
Temporary workers are entitled to sick pay
False
True
8
What is this an example off?
Market Mapping
Market Research
Chocolate
Market Orientation
9
What is primary research?
Data collected by yourself
Data that is used to scout and create graphs for businesses
Data collected relying on others
A google search
10
What is delayering of a business?
Removal of one or more managers from the hirearchy
Passing authority to subordinates lower down the business hirearchy
Closing down the business
Suing a business
11
Which option is not part of the PEACH paragraph structure?
Example
Point
However
Circumstances
12
Which one of these is not a type of market segmentation?
Geodemographic
Demographics
Interdemographics
Physcodemographics
13
What option is an example of primary research?
News information
Research which is conducted using data from others
Wikipedia
Survey
14
You need to insure a agency worker
True
False
15
What is stratified sampling?
Sampling at complete random
Population divided into groups such as gender
Select a sample that reflects the characteristics of the group
Sampling by choosing people using biast
16
Seasonality is where a season changes the levels of demand such as christmas
True
False
17
What structure should you follow for a 12 mark question?
1 x PEACH paragraph and a DISCOM conclusion
2 x PEACH paragraph
2 x PEACH paragraph and a DISCOM conclusion
3 x PEACH paragraph
18
Hotel Chocolat is in a niche market
True
False
19
What is qualitative data?
A percentage
None of the above
Often an object or non numerical value
Can be expressed as a number
20
What is outsourcing?
Collecting data from within the business
Employing internal people to complete work
Collecting data from outside the business
Employing external companys to complete work
21
An external shock is a expected event that is outside the business's control
True
False
22
This graph shows a stable market
False
True
23
What is marketing?
Targeting individuals because you like them
Targeting a product at a target market using the four p's
Selling products
Making profit
24
The definition of demographic is analysis of the characteristics of populations and subsets of populations, like gender
False
True
25
How do you calculate market share?
Sales ÷ cost × 100
Cost ÷ sales × 100
Market Sales ÷ Business sales × 100
Business sales ÷ Market sales × 100
26
What is a trade unions aim?
Protect workers thoughts and feelings
Get workers more money
Protect workers rights and interests
Protect workers moral
27
What is a dynamic market?
A mass market area with high sales
A market which is subject to continual and rapid change
A market where products are specified
a market where prices and transacted volumes are constant
28
What is a stable market?
A market which can handle large volumes of trades without deviation
A market which is constantly changing
A market which fluctuates often
A market which cannot handle a large number of trades without deviation
29
What is cost of production equal to?
Labour
The price of the factors of production
Time costs
Land
30
If you have more demand then supply you have a what...
Alot of product
Deficit
Surplus
Problem
31
What structure should you follow for a 4 Mark question?
1 x PEACH paragraph and 1 x DISCOM conclusion
1 x PEACH paragraph
2 x PEACH paragraphs
1 x PEAC paragraph - No [H]owever needed
32
How many demand factors are there?
12
5
4
7
33
Coca cola is in a niche market
False
True
34
What is an inferior good?
A good which exceeds expectations
A good better than all other options
A good where the demand decreases with an increase in consumer income
A good which is below expectations
35
What is off the job training?
Training which takes place within the business
Training that takes place in a nearby company
Training which takes place outside the business
Training which is done individually with no assistance
36
What is the definition of demand?
Asking for something
How much people get of a product
Amount society is willing & able to buy at a set price in at point time
Amount society is willing to sell a product for
37
What one of these is not one of the four p's?
Product
Placement
Promotion
Price
38
The purpose of trialing is to test whether consumers will buy a product
False
True
39
If coca cola increase their price, what will happen to the profit levels of pepsi
Profit increases
Revenue increases
Profit decreases
Stays the same
40
What option is not part of the DISCOM structure?
It depends on
Specificities
Decision
Cost impact
41
What is our exam board?
AQA
HGH
OCR
Edexcel
42
ROI stands for return of income
False
True
43
What is not an example of secondary research?
Customer reviews
Census
Interviews
Magazines
44
Market orientation is when you choose the market then create the product
False
True
45
Product orientation is when you choose the market then create the product
False
True
46
How many supply factors are there?
8
10
2
5
47
If a demand curve moves left the company will make more profit
False
True
48
Zero hour contracts have no guaranteed hours
True
False
49
What option do you not need to consider legally when employing people?
Discrimination
Feelings
Holidays
Insurance
50
What is an entrepreneur?
People who see business opportunities and turn their ideas into businesses
People who see business opportunities
People who do not capitalise on opportunities that they witness
People who see business opportunities and invest into them
