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GCSE Business Studies Unit 1 AQA Flashcards | StudBud
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GCSE Business Studies Unit 1 AQA
GCSE Business Studies Unit 1 AQA
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Business in the real world (unit 1) from the AQA Business Studies GCSE syllabus.
Flashcards
35 cards
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Practice quiz
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Questions
35
Answers
1
Why might two sole traders find life easier after joining together to become a partnership?
Profits are divided
Unlimited liability
Work can be split
Conflicting ideas
2
Which of these is unlikely to be an objective of a newly opened hairdresser?
Growth
Customer satisfaction
Increasing shareholder value
Survival
3
A social enterprise is a business set up to help society rather than make a profit.
False
True
4
Which of the following is not an advantage of becoming a public limited company?
Outside investment can be sought
More regulations
More status
Can advertise shares to the public
5
If a clothing manufacturer buys a cotton farm, this is an example of ________.
Forward vertical integration
Horizontal integration
Backward vertical integration
Conglomerate integration
6
Who owns public sector organisations?
Shareholders
Government
Individuals
Stock market
7
Which of these is not typically found in a business plan?
Objectives
Background information on the founders
Financial projections
Contract of employment
8
Which of the following is an example of external growth?
Franchising
E-commerce
Outsourcing
Merger
9
Which of the following is the correct calculation for profit?
Revenue + Fixed Costs
Revenue - Total Costs
Revenue x Total Costs
Revenue / Total Costs
10
An objective is a specific target set for a business to achieve.
True
False
11
Which of the following is not a characterisitc of an entrepreneur?
Hard working
Innovator
Profit maximisation
Risk taker
12
All businesses want to make profit.
False
True
13
What is it called when output rises and unit costs increase?
Not-for-profit
Diseconomies of scale
Economies of scale
Internal growth
14
The government placing a limit on the number of foreign goods imported into a country is a _______.
Tariff
Duty
Tax
Quota
15
Which of the following is not a function of the business?
Business plan
Marketing
Operations
Finance
16
A _______ occurs when a private limited company becomes a public limited company.
Partnership
Stock exchange
Flotation
Share buyback
17
What do you call someone who buys a franchise for a fee and/or share of turnover?
Francis
Franchisor
Franchise
Franchisee
18
A ________ is an intangible product such as financial advice.
Good
Consumer
Customer
Service
19
Economies of scale occur when output increases and ______.
Variable costs increase
Total costs decrease
Revenue increases
Unit costs decrease
20
An aim is a general goal of a business.
True
False
21
Which of the following is the correct calculation for total costs?
Fixed Costs + Variable Costs
Fixed Costs / Variable Costs
Fixed Costs x Variable Costs
Fixed Costs - Variable Costs
22
Private limited companies have plc after their names.
False
True
23
Which of the following is a benefit of forming a company?
Limited liability
Create public accounts
Increased paperwork
Unlimited liability
24
Which of the following is not a reason for having a business plan?
Co-ordinate actions
Set objectives
Uncertainty
Raise finance
25
How do you calculate sales per employee?
Sales / No. of Employees
No. of Employees x Sales
Sales x No. of Employees
No. of Employees / Sales
26
How do you calculate market share?
(Product Sales / Total Market Sales) x 100
(Total Market Sales / Product Sales) x 100
(Product Sales x Total Market Sales) / 100
Product Sales x 100
27
When Rolls Royce sells a car from its UK factory to Malaysia, that is an import for the UK.
False
True
28
The people who own a plc are often different to the people running it. This is an example of what kind of conflict?
Government vs Suppliers
Owners vs Customers
Employees vs Local Community
Shareholders vs Management
29
Which of the following is not a factor of production?
Entrepreneur
Capital
Land
Labour
30
A company makes a profit and pays it out to its shareholders. What is this an example of?
Dividend
Variable costs
Revenue
Increase in share value
31
Which of the following stakeholders will be most concerned with job security?
Shareholders
Employees
Suppliers
Local community
32
Which of the following is not a disadvantage of a UK business relocating to India?
High initial costs
Cheaper labour
May alienate UK customers
Different regulations
33
How do you calculate unit costs?
Total Costs / Output
Output + Total Costs
Output / Total Costs
Total Costs x Output
34
What is an individual that is affected by the activities of a business called?
Shareholder
Local government
Gary
Stakeholder
35
Which of these is not an advantage of being a sole trader?
Limited liability
Keep all profits
Quick to set up
Autonomy
