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GCSE Business Revision
GCSE Business Revision
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GCSE Business Unit 2 - Growing a Business revision
Flashcards
50 cards
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Practice quiz
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Questions
50
Answers
1
Which of the following best describes the term 'salary'?
a reward based on success
a payment for every hour worked
an extra payment for work
an annual payment paid in equal installments
2
Which of the following is an example of JIT?
Delivering goods on deadline day
Receiving components on the day they are needed
Making products when customers order them
Paying suppliers at their deadline
3
Section 1 of this Boston Matrix is..
Dog
Star
Problem child
Cash Cow
4
Which of the following are methods of renumeration?
Salary
All of them
Piece rate
Time rate
5
The main reason why a business will want to reduce waste it to:
increase capacity
improve customer service
lower costs
reduce stock
6
Current assets minus current liablities equals working capital
True
False
7
Look at the diagram and state what phase C is called?
Growth
Introduction
Decline
Maturity
8
Which of the following is not a current asset?
Cash
A van
Debtors
Stock
9
Which of the following would not be classed as a fixed asset
Stock
Brand name
Property
Vehicles
10
What does plc stand for?
Private limited company
Public liability company
Private limited control
Public limited company
11
What does this diagram illustrate?
Diminishing returns
The product life cycle
The business cycle
Economies of scale
12
The exchange rate is best described as:
The price of pounds as expressed in euros
The rate used to price imports and exports
The price of one currency in terms of another
The ratio of a currency to its global value
13
What is the current Bank of England base rate?
0.25%
0.5%
0.1%
1%
14
Which of the following best defines 'Marketing'?
targeting a certain part of the market
satisfying customers' needs profitably
making a product for the market
selling products to customer effectively
15
Kaizen orginates from which country?
China
South Korea
Japan
Thailand
16
A high current ratio suggests that...
The firm is holding too much stock
All are possible
The firm is owed a lot from debtors
The firm has a high cash at bank
17
What is the firms market share?
14%
14.25%
10%
12.5%
18
Which of the following is is not about off-the-job training?
May not be right for the business
Gives the precise training that the business requires
Training outside the workplace
Can be expensive
19
Which of the following is regarded as the 5th P of the marketing mix?
Plant
People
Process
Packaging
20
What minus expenses equals Net profit?
Operating Profit
Cost of sales
Gross profit
Retained profit
21
What do the initials JIT stand for?
Joint inhouse training
Just in today
Just in time
Just in total
22
Sales revenue minus cost of sales equals..
Net profit
Operating Profit
Gross Profit
Retianed profit
23
Which pricing strategy would be most suitble for a new high quality product entering the market
Penetration
Skimming
Destoryer
Loss leader
24
A stock control diagram shows:
Stocks over time including sales and profit margins
Sales over time including delivery dates and buffer stocks
Stock over time including re-order and minimum stock levels
Sales over time inlcuding buffer stocks and re-order amounts
25
What is taken from current asset to calculate the Acid Test
Debtors
Cash
Stock
26
A 4% rise in the firm sales will result in how many sales?
15,600
15,400
15,500
15,450
27
What is the firms Gross profit margin?
5.7%
12.8%
15.4%
23.2%
28
Which of these is not part of the Boston Matrix?
Dog
Problem Child
Cat
Cash Cow
29
Which is the best description of the 'span of control'?
the number of people who report to a supervisor
the different levels of a hierarchy
the right for workers to take responsibility
the path through which orders are passed
30
Which is the best description of the 'chain of command'?
the different levels of a hierarchy
the number of people who report to a supervisor
the path through which orders are passed
the right for workers to take responsibility
31
Which of the following is most likely to lead to an increase in worker motivation?
working with a coffe machine that needs constant repair
being passed over for promotion
an increased workload
being praised
32
Which of the following is an example of qualitative research data?
chart showing Tesco's sales
Map showing all Tesco's stores in the UK
The views of Tesco's customer about late night shopping
Tesco sales figures for the past five years
33
Which of the following is not an example of primary research?
focus group
ONS survey
survey monkey
observation
34
What is meant by the term 'organic growth'?
businesses that expand their range and stores
businesses that buy other businesses
when two or more businesses join together by mutual consent
when you don't add any fertilizer to help the business grow
35
What are the axis on the Boston Matrix
Market Growth and Market Share
Market map and market share
Market Growth and Market success
Market size and market conditions
36
Which of these is not a market structure
Oligopolistic Competition
Perfect Competition
Oligopoly
Monopolistic Competition
37
Current assets = £120, Stock = £60 and current liabilities = £80. What is the acid test?
1.25:1
0.75:1
1.5:1
0.25:1
38
Which of the following is an external economy of scale?
Bulk buying
Inertia
Financial
Technical
39
What best describes 'quality'?
value for money
high end brand names
products made from expensive raw materials
expensive products
40
If current assets are £120,000 and current liabilities are £80,000. What is the current ratio?
1.5:1
2:1
1:1
0.75:1
41
What is the current rate of VAT?
18%
17.5%
20%
21%
42
Which of the following is not a sales promotion technique?
3for2
Free gift
BOGOF
Sponsorship
43
Which of the following is most likely to be a problem for the business having stakeholders?
stakeholders put money into the business
Stakeholders can have different views
stakeholders can work for the business
stakeholders can have different skills
44
What does TQM stand for?
Total Quality measure
Total Quality Management
Todays Quality Measure
Total Quantity made
45
What name did Tescos use when trying to launch in the US?
Fresh
Tesco
Easy Life
Fresh & Easy
46
What is the minimum wage for 16yr olds in the UK?
£4.55
£4.10
£5
£4
47
What does SPICED stand for?
Slowing Pound Increases Changes Excise Duty
Strong Production Inflows Causes Extra Demand
Strong Pound Import Cheap Exports Dear
Slow Production Inflows Cause Extra Delays
48
Which of the following is an internal source of finance?
a loan
an overdraft
selling assets
stock market flotation
49
Which of the following is not part of a firms appropriation account?
tax
Interest
Dividends
Retained profit
50
Whose motivation theory does this diagram represent?
Maslow
Herzberg
Taylor
MCGregor
