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