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Edexcel Business Studies GCSE Unit 1 Flashcards | StudBud
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Edexcel Business Studies GCSE Unit 1
Edexcel Business Studies GCSE Unit 1
40 terms
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A Quiz about a range of Unit 1 topics
Flashcards
40 cards
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Practice quiz
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Questions
40
Answers
1
What is true about interest rates?
High interest = pay less back
High interest = pay more back
2
What are two areas of added value
Convenience and value
Building size and Quality
Speed and experience
Convenience and branding
3
What do businesses need to consider about customers needs
Quality of product
Gender
Location
Size of the building
4
Who is involved in a franchise?
Franchisee, Franchisor
Franchiser, Financer
5
Which of these is the money left after all costs have been taken away
Profit/loss
Costs
Revenue
6
What is an opportunity cost about?
Considering other options
Considering the next best alternative
7
What do businesses have to consider about their competition?
Quality
Price
8
Which of these businesses has limited liability?
Sole trader
Private limited company
Partnership
Lucrative company
9
What are the colours of the 6 thinking hats?
gold, white, red, silver, yellow, black
blue, white, red, green, yellow, black
pink, orange, purple, green, yellow, black
blue, orange, red, green, yellow, pink
10
What are the journalistic 6?
Who? Why? What? Where? When? How?
Who? Where? When? How?
11
What is the last stage of the recruitment process
Notify unsuccessful applicants
Select and appoint the best candidate
12
How is net cash flow calculated?
Total Inflow -Total Outflow
Total profit -Total inflow
13
Which one is a type of thinking?
Red skies thinking
Blue skies thinking
14
What is recruitment
Bringing new staff into a business
Making people lose their jobs
15
What is a franchise
Selling goods using an existing businesses name and logo
The right for a business to sell via website
16
What is the point at which supply and demand meet?
Middle
Equilation
Equilibrium
The centre
17
A calculated risk is..
Calculating a risk
Putting a value or probability on the level of risk
18
Which of these relates to a trademark
Music
Logos
19
Which one might you see on the front of a shop?
Legal name
Trading name
20
What are two examples of non-financial benefits
Pension and Salary
Gym membership and Bonus
Car and holiday
Car and wages
21
What are the two types of law
Civil and Criminal
Criminal and legal
22
What taxes might a business pay
Corporation tax
National insurance
VAT
Income tax
23
An example of a non-financial objective is...
Survival
Profit
24
What two ways can we segment a market
Telegraphic
Geographic
Monographic
Demographic
25
Which of these relates to a patent?
Logos
Products
Photos
Music
26
What is an enterprise?
Another word for creating ideas
Another word for business
27
An example of an internal stakeholder
Suppliers
Bank manager
Competitors
Staff
28
What is a permanent contract
Ends after an agreed period of time
Fixed term contract with an end date
29
Which of these is any money that comes into a business
Revenue
Cost
Profit
30
What is geographic segmentation concerned with
Size of the population
Location
Characteristics
Personality types
31
What is a surplus
When there is too much of something and price drops
When there isn't enough of something and price rises
32
Which are business terms?
Invention and innovation
Invertion and Intention
33
Methods of long term finance...
Retained profit
Trade credit
Bank loan
Overdraft
34
What should be included in a business plan?
Aims and Objectives
Location
Competition
Finance
35
What do all business objectives need to be?
SMART
SCART
SPART
SMARK
36
The four sections of the business cycle are...
Boom, Repeat, Slump, Recovery
Boom, Recession, Weakness, Recovery
Boom, Dump, Slump, Retreat
Boom, Recession, Slump, Recovery
37
What are the four elements of the marketing mix
Product, price, place, process
Product, aims, objectives, promotion
Product, price, location, convenience
Product, price, place, promotion
38
A fall in the value of the £ is good for....
Exporters
Importers
39
What is lateral thinking?
Thinking outside the box
Using existing ideas
Thinking inside the box
Intentionally coming up with ideas
40
What is the closing balance?
The amount you have at the start of the month
The amount you have at the end of the month
