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GCSE Business Unit 3 Flashcards | StudBud
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GCSE Business Unit 3
GCSE Business Unit 3
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Some random questions for Edexcel Business Studies Unit 3
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What is the impact on UK businesses if the Pound strengthens?
Exports cheaper
Will have to pay more back to the bank
Imports dearer
Imports cheaper
2
Which may extend the life cycle of a product?
Import less
Rebranding
Increasing the price
Reduce manufacturing
3
Which of the following is likely to see an improvement of cash flow?
Take out a bank loan
Paying suppliers earlier
Increased interest rates on money borrowed
Buy more stock
4
Which of the following is not a element of the Boston Matrix?
Problem Mark
Star
Cash Cow
Dog
5
Which of the following will allow a business to increase its profits?
None of the above
Keep revenue the same but decrease total costs
Advertise less
Reduce revenue and increase total costs
6
Which is not an advantage of increased motivation of workers?
So they can give better customer service
So employees are more productive
So staff are less likely to take time off
So they can earn a higher wage
7
Which of the following is not an example of quantitative data
How many times a month do you buy this product?
I think the product is ...
Do you prefer red or blue packaging?
146 people bought the product yesterday
8
Which is not an advantage of holding larger amounts of buffer stock?
Perishable goods may go off
Increased ability to meet customer orders
Better customer service
Better brand image
9
Being ethical can not allow a business to...
Differentiate itself in the market
Add value
Charge higher prices
Pay less than the national minimum wage
10
Which of the following is not part of Maslow's hierarchy of needs?
Social
Teamwork
Basic
Self-actualisation
11
Which is the element of the marketing mix responsible for the distribution of the product?
Warehouses
Place
Product
Distribution
12
Which is not a source of secondary research?
Newspapers
Journals
Focus groups
Internet
13
Buffer stock is ...
The maximum stock level
The minimum stock level
Stock that gets used up quickly
The level that stock is ordered at
14
Remuneration refers to...
How people get paid
Having a wide range of skills
Rewarding people for work
Fringe benefits
15
Which is not an element of the design mix?
Aesthetics
Cost
Function
Size
16
A market segment is...
A group of customers with similar buying habits
A business owner
An area of the market the business sells in
The people who buy your product
17
Market mapping is used for ...
Making sure people know where your business is
Thinking about how to get to work
Mapping out your route to market
Finding gaps in the market
18
The formula for
break even
is
Total revenue - total costs
Selling price - variable costs
Contribution / Fixed costs
Fixed costs / Contribution
19
Which is not an element of the 4Ps of the marketing mix?
Price
Promotion
Place
People
20
Which is not a stage of the product life cycle?
Introduction
Peak
Maturity
Growth
