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Duplicate of Edexcel GCSE Business Studies U1 May 2017 Flashcards | StudBud
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Duplicate of Edexcel GCSE Business Studies U1 May 2017
Duplicate of Edexcel GCSE Business Studies U1 May 2017
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A revision quiz for Unit 1 Business Studies
Flashcards
43 cards
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Practice quiz
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Questions
43
Answers
1
What is a disadvantage of external recruitment?
Longer process
May cause resentment among candidates not appointed
no new ideas can be brought in from outside the business
limits the number of potential candidates
2
What is the main factor that Tesco, Asda and Sainsbury's compete on?
Offers
Quality
Price
Customer service
3
What is missing figure B?
5000
7000
12000
23000
4
What is most likely to cause a loss?
Advertising attracted new customers
Fixed costs fell
Sales fell
Cost of raw materials fell
5
'Risk' is the probability that something goes wrong leading to a loss
True
False
6
Which of the following is NOT a reason why businesses should meet customer needs?
repeat business
generating skills
give staff skills
profit
7
What is market mapping used for?
Raise brand awareness
Helps a business to plan
Increase sales
To identify a gap in the market
8
Which of the following is not used in the selection process for recruitment?
Tests
CV
Advert
Application form
9
What is an advantage of external recruitment?
People are already familiar with the business
Provides an opportunity for promotion
Cheaper and easier to recruit
Larger pool of workers to choose from
10
A disadvantage of unlimited liability is
Need to pay higher taxes
Sharing profit with other shareholders
Risk of losing personal possessions
Less control of the business
11
Which is a non-financial objective?
To be your own boss
To make profit
To become financially stable
12
Unlimited liability applies to
Limited Companies
Sole Traders
13
Qualitative data is about numbers?
True
False
14
What is a disadvantage of internal recruitment?
Longer process
Selection process may not reveal best person for the job
Limits the potential number of applicants
More expensive due to advertising costs
15
A teacher is always paid a...
salary
wage
16
A wage is...
A regular payment typically paid on a monthly bases
A regular payment typically paid on a daily or weekly basis
17
When we gather information about customers and their needs it is called:
Discovering trends
Quick Research
Market research
Primary research
18
Which one of the following is NOT a benefit of delivering good customer service?
Increases costs
Repeat business
Increases sales potential for the business
Improves the business's reputation
19
What is invention?
Discovery of new processes and new products
Launching a new product
Process of transforming new ideas into products
Copying a new product
20
A shop work will usually be paid a...
salary
wage
21
An advantage of paying a salary for the business is...
More cost-effective
Employee does not have to be paid as often
22
What is used in the recruitment process?
Person description
Person specification
23
An example of a financial benefit to motivate employees is...
free lunches
Commission
being part of a team
Flexible hours
24
Which of the following is NOT a potential risk for an entrepreneur?
Lack of security
Financial loss
Generating sales
Business failure
25
Which is an example of primary research?
Internet research
Survey of customers
Newspaper articles
Government statistics
26
What the correct name for the diagram below?
Market segmentation
Market map
Price and quality assessment
Tool to reduce risk
27
Advantages of a franchise
They pay a lower rate of VAT
The bank is more likely to lend you money
You can choose your own suppliers
You have complete freedom to make decisions
28
Angela is a wedding planner. How could she add value to her business?
Lower average costs
Charge a premium price
Provide customers with a convenient service
Move to London
29
How can a small independent music store compete with a supermarket?
Open up two new stores
Launch an advertising campaign
Focus on improving customer service
Lower Prices
30
Objectives are a...
short-term goal a business is trying to achieve
an aim a business has
specific, measureable, achieveable, realistic, timely
long-term goal a business is trying to achieve
31
What factor must a business consider when shortlisting applicants for a job?
Appearance
Gender
Age
Skills
32
Which is a fixed cost?
Wages
Raw materials
Rent
Packaging
33
What is a person specification?
Detailed statement of the nature of the job &tasks involved.
Profile of the type of person likely to make a good fit
34
A factor that does not influence pay is...
The employee's beliefs
Experience
qualifications
Ability of the person
35
What is an advantage of internal recruitment?
People have a wider range of experience
Larger pool of workers to choose from
These people bring in more new ideas
Cheaper and easier to recruit
36
River Island is an example of a...
Public Limited company
Private Limited company
37
What is innovation?
Bringing a product to market
Coming up with a new product
38
Which are variable costs?
Wages
Packaging
Raw materials
All of the above
39
Which of the following is not a customer need?
Good range
Knowledgeable and friendly staff
lots of choice
Business survival
40
The NHS is a...
Public Limited company
Private Limited company
41
How can you add value?
Employ an accountant to manage cash-flow
Buy a van with your name on the side
Offer free after-care visits to check customer satisfaction
Make sure you have an excellent relationship with the bank
42
An example of a non-financial benefit to motivate employees is...
Commission
Teamwork
Bonuses
Pension
43
What is missing figure A?
7000
11000
12000
5000
