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A level Edexcel Business Theme 1 Flashcards | StudBud
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A level Edexcel Business Theme 1
A level Edexcel Business Theme 1
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StudBud Administration
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A Level Business {1.1.1}, {1.1.2}, {1.1.3}, {1.2.1}, {1.4.1}, {1.4.2}
Flashcards
50 cards
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Practice quiz
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Questions
50
Answers
1
Product orientation is when you choose the market then create the product
True
False
2
Coca cola is in a niche market
False
True
3
What is outsourcing?
Employing internal people to complete work
Employing external companys to complete work
Collecting data from within the business
Collecting data from outside the business
4
What does profit equal?
Revenue + costs
Costs - Revenue
Costs + Revenue
Revenue - costs
5
Seasonality is where a season changes the levels of demand such as christmas
True
False
6
How many supply factors are there?
2
5
8
10
7
What is our exam board?
OCR
HGH
AQA
Edexcel
8
What is qualitative data
A percentage
None of the above
Can be expressed as a number
Often an object or non numerical value
9
what is a niche market?
the market for goods that are produced in large quantities
a small, specialized market for a particular product or service
a place where unique things are sold
an area or arena in which commercial dealings are conducted
10
ROI stands for return of income
False
True
11
What is marketing?
Targeting a product at a target market using the four p's
Making profit
Selling products
Targeting individuals because you like them
12
This graph shows a stable market
True
False
13
What option is an example of a competitive advantage in a market
Mimicking other companys
Standard concepts and designs
Unique characteristics and style
14
What is the definition of demand?
Amount society is willing & able to buy at a set price in at point time
How much people get of a product
Amount society is willing to sell a product for
Asking for something
15
Which option is not part of the PEACH paragraph structure
Example
However
Point
Circumstances
16
What is cost of production equal to?
Land
The price of the factors of production
Time costs
Labour
17
If coca cola increase their price, what will happen to the profit levels of pepsi
Stays the same
Profit decreases
Profit increases
18
What one of these is NOT one of the four p's
Promotion
Price
Product
Placement
19
Market orientation is when you choose the market then create the product
False
True
20
Zero hour contracts have no guaranteed hours
False
True
21
Hotel Chocolat is in a niche market
False
True
22
Temporary workers are entitled to sick pay
True
False
23
Taxation is a charge placed by governments to finance their spending
True
False
24
If you have more demand then supply you have a what...
Surplus
Deficit
Alot of product
Problem
25
What structure should you follow for a 12 mark question
3 x PEACH paragraph
2 x PEACH paragraph and a DISCOM conclusion
2 x PEACH paragraph
1 x PEACH paragraph and a DISCOM conclusion
26
What is delayering of a business?
Removal of one or more managers from the hirearchy
Closing down the business
Passing authority to subordinates lower down the business hirearchy
Suing a business
27
Do you enjoy your business lessons
No
Yes
I dont mind
28
Which one of these is NOT a type of market segmentation
Interdemographics
Physcodemographics
Geodemographic
Demographics
29
The purpose of trialing is to test whether consumers will buy a product
True
False
30
What structure should you follow for a 4 Mark question?
2 x PEACH paragraphs
1 x PEACH paragraph
1 x PEACH paragraph and 1 x DISCOM conclusion
1 x PEAC paragraph - No [H]owever needed
31
What is a trade unions aim?
Protect workers moral
Protect workers rights and interests
Get workers more money
Protect workers thoughts and feelings
32
What is NOT an example of secondary research
Interviews
Magazines
Customer reviews
Census
33
What is primary research?
Data collected by yourself
A google search
Data collected relying on others
34
What option is NOT part of the DISCOM structure?
It depends on
Specificities
Decision
Cost impact
35
You need to insure a agency worker
True
False
36
How do you calculate market share?
Cost ÷ sales × 100
Business sales ÷ Market sales × 100
Market Sales ÷ Business sales × 100
Sales ÷ cost × 100
37
What option is an example of primary research?
Wikipedia
News information
Survey
38
What option do you NOT need to consider legally when employing people?
Discrimination
Feelings
Holidays
Insurance
39
Product differentiation is the process of distinguishing a product or service from others
True
False
40
What is NOT a purpose of market research
Increase risk of product development
Identify customer wants and needs
Indentify gaps in the market
Inform business decisions
41
An external shock is a expected event that is outside the business's control
False
True
42
How many demand factors are there?
12
7
4
5
43
What is a stable market
A market which can handle large volumes of trades without deviation
A market which fluctuates often
A market which is constantly changing
A market which cannot handle a large number of trades without deviation
44
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 prices and transacted volumes are constant
A market where products are specified
45
What is off the job training
Training that takes place in a nearby company
Training which is done individually with no assistance
Training which takes place within the business
Training which takes place outside the business
46
The definition of demographic is
analysis of the characteristics of populations and subsets of populations, like gender.
False
True
47
What is an inferior good?
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
A good which exceeds expectations
48
What is this an example off?
Market Mapping
Market Orientation
Market Research
Chocolate
49
If a demand curve moves left the company will make more profit
True
False
50
What is stratified sampling?
Population divided into groups such as gender
Select a sample that reflects the characteristics of the group
Sampling at complete random
Sampling by choosing people using biast
