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Business Studies Revision
Business Studies Revision
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GCSE Business Studies Revision
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Identifying where there is a gap for a business opportunity is known as:
Marketing mix
Market mapping
Cash flow forecast
Financial objectives
2
Which one is a way that a business could ensure it provides quality customer service:
Decreasing the number of staff
Providing regular staff training
Reducing staff working hours
Cutting staff wages
3
Which one of the following would be the LEAST effective in adding value to customer experience?
Being able to book tickets online
Offering flights to more destinations
Offering flights to fewer destinations
Being able to reserve a seat
4
Which one of the following is an example of variable costs?
Insurance premiums
Loan repayments
Raw materials
Salaries
5
One key feature of unlimited liability is that the owner will:
...have a number of people working for him
...cannot get a bank loan
...work on his own
...is responsible for all his debts
6
The price of one currency in terms of another is known as:
Cash flow forecast
Income tax
Exchange rate
Capital
7
Which two of the following are the most likely advantages of starting a franchise?
Training and support are provided
Ability to offer a different service
Can buy goods to sell from any supplier
Banks are more willing to lend money
8
Information about opinions, judgements and attitudes is known as:
Qualitative data
Financial objectives
Market mapping
Quantitative data
9
Which is the most likely reason for sole traders to fail in the first two years?
Not being able to have a holiday
Competition from larger companies
Having to publish accounts
Too much consumer demand
10
Which one of the following is an example of long-term finance for a sole trader?
Share Capital
Overdraft
Bank Loan
Trade credit
11
Which two of the following would add value to a sandwich shop?
Producing a business plan
Competitors increasing prices
No uniform for staff
Increasing opening hours
12
A document that shows money going in and out of a business is known as:
Cash flow forecast
Financial objectives
Capital
Income tax
13
What would be the impact on a business if they started to make a loss?
Higher net cash flow
Higher Corporation Tax
Lower overall profit
Lower fixed costs
14
Which one of the following would break legislation if included in a job advertisement?
"Working hours"
"Two years of experience"
"Must have at least NVQ level 2"
"Must be British"
15
Which one of the following is a disadvantage of using personal savings as a source of finance?
No interest will have to be paid
The amount available might not be sufficient
The money will not have to be repaid
The money is instantly available
16
Which one of the following is the most important feature of enterprise?
Employing people
Gaining qualifications
Poor planning
A willingness to take risks
17
Which one of the following would be drawbacks to businesses facing increased competition?
Need to cut staffing levels
Ability to increase prices
An increase in innovation
Offering good products and service
18
Which one of the following is an example of a short-term source of finance?
Share capital
Loan from bank
Venture capital
Overdraft
19
Using the internet to gather information is which type of market research?
Primary research
Secondary research
Focus group
Segmentation
20
Which one of the following is a stakeholder in a sandwich restaurant ('Sandwiches to Go')?
Commuters who pass by Sandwiches to Go
Newsagent whose shop is near to Sandwiches to Go
Owners of the railway station
Customers of Sandwiches to Go
