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Business Studies GCSE
An example of a fixed cost
Competition is good for customers because
Business Studies GCSE
40 terms
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Business GCSE revision
Flashcards
40 cards
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Practice quiz
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Questions
40
Answers
1
Competition is good for customers because
It lowers customer service
It makes shops busy
It lowers prices
It increases prices
2
An example of a fixed cost
Rent
Raw materials
Wages of production staff
Packaging for each product
3
The name of the tax that businesses pay on their profits
Income tax
VAT
Corporation tax
Business tax
4
An internal source of finance
Selling assets
Share capital
Venture capital
Bank loan
5
An example of a service
Sandwich
Can of Coke
Packet of crips
Hairdresser
6
Quantitative data includes collecting ......
Money
Presents
Numerical data
Opinions of people
7
Which of the following is a source of added value for a business?
Advertising just in the window
Providing a follow up call to check if the customer is happy
Having poor quality products
Shutting up early
8
Which of the following is an example of qualiitative research for a restaurant
The ideas gained from customers on how to improve
The number of customers who go there
The percentage of customers that are family groups
The different opening times they have
9
Which of these is found on a Boston Matrix
Crocodile
Goat
Dog
Rudolph
10
Which is the odd word out in the product cycle?
Growth
Introduction
Investment
Decline
11
A short-term method of finance
Venture capital
Bank loan
Family
Overdraft
12
An organisation who persuade people to do the right thing
Shareholder
Government
Stakeholder
Pressure group
13
A way to protect your product design
Bubble wrap
Patent
Packaging
Cardboard
14
One of the four Ps
Premium
Population
Price
Primark
15
What is the total reveneue if a business sells 10 products at £50 each
£100
£50
£500
£5500
16
Which of these is not a type of pollution?
Water
Honey G
Noise
Air
17
Which
one
of the following is an example of primary market research?
A newspaper
A book
The internet
A survey
18
Where the business sells enough products to cover the costs of making them
Breakeven
Margin of safety
Total revenue
Breakunder
19
A person might have difficulty starting a business because
They don't know what time to open
They may struggle to raise finance
They hate getting up in the morning
They have lots of time, money and expertise
20
Being ethical is all about doing the right .......
Bus journey
Dance
Thing
Holiday
21
Which would be a good reason to use external recruitment?
You want to motivate the people who already work for you
You need a person who already knows your company
You need someone really quickly
Someone with new ideas is required.
22
What does limited liability mean?
You only lose your investment if the business fails
Where you only have limited stock
You lose everything if the business fails
You have to ring friends to help you out
23
What is customer service?
Being rude to customers
Meeting the needs and expectations of a customer
Only being polite to certain customers
Not thinking about the needs of customers
24
A limit on the number of products you can import into the country
Extension
Tariff
Subsidy
Quota
25
VAT is paid to who?
The government
The local council
The employees
The managers if the business does well
26
What does market mapping do?
Creates a map of the shop floor
Helps a business to find gaps in the market
Selling the rights to use a business's products
Protects anyone from copying your product idea
27
Which of the following is an advantages to an individual of starting a business as a franchise
Help and advice
Being busy
Being in total control
A name no one knows
28
Spot the odd one out - methods of promotion
magazine advert
Flyers
Bribery
Sponsorship
29
Where the customer comes back to buy from the business again.
Brand image
Showing off
Repeat purchase
Being greedy
30
Tesco is an example of a ........
Plc
Ltd
Sole trader
Franchise
31
What is a stakeholder?
Someone who is busy
Someone who likes to eat steak
Someone who cares about the business
Someone who is interested in the business
32
Where decisions are made by the branches of the business
Centralised
De-centralised
Communication
Subsidised
33
What does the stock control method of JIT stand for?
Justin Timberlake
Just in time
Time in just
Just in travel
34
This is about getting the product to the market
Branding
Invention
Product life cycle
Innovation
35
What would you find on a business plan?
Photos of the worker
The address of the business
Santa and his reindeers
The forecast finances
36
If revenue is £50,000 and costs are £25,500. How much profit does the business make?
£24,500
£25,750
£75,500
£25,500
37
The first stage in the product life cycle
Growth
Maturity
Introduction
Decline
38
What is the formula for breakeven?
FV/VC-SP
TR-FC
VC/SP-FC
FC/SP-VC
39
Market share and market growth are found on the axis of ...
Market map
A product life cycle
The Boston Matrix
A breakeven graph
40
A barrier to effective communication
Not shouting
Whispering
Use of jargon
Not having a telephone
