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GCSE Business Studies - Revision Flashcards | StudBud
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GCSE Business Studies - Revision
GCSE Business Studies - Revision
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Test your knowledge of GCSE business studies. The quiz is based in the CIE syllabus.
Flashcards
27 cards
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Practice quiz
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Questions
27
Answers
1
What does the primary sector provide business with?
Natural resources
Loans
Legal advice
Employees
2
What is meant by opportunity cost?
It is the lack of sufficient profit
The nest best alternative given up when choosing another product
Your business needs
The cost you have to pay when making a profit
3
What is meant by a mixed economy?
Mixed products
Public and private people
Both private and public sector
Both private and public limited companies
4
Which of these are entrepreneurs?
Carlos Slim
All of the above
Mark Zuckerberg
Bill Gates
5
What is the correct order for Maslow's hierarchy?
safety - psychological - actualization
safety - respect - motivation
physiological - esteem - actualization
psychological - basic - safety
6
What is an SME in terms of our business studies course?
Smart method of engaging
Small man egotist
Small to medium enterprise
Sistema Monetario Europeo (Italian)
7
Which two of the following are possible objectives for someone setting up business as a sole trader? Select two answers.
Allow others to make decisions
Take all the profit
Have full control
Benefit from limited liability
8
Which of the following belong in the private sector? Select two
Partnership
Healthcare (NHS)
Franchise
Law enforcement
9
Gail uses the internet to gather other information. This approach is an example of which type of market research.
Segmentation
Secondary
Focus group
Primary
10
Business has little control over these
Influences
External influences
Internal Influences
11
Person or group with a direct interest in the business.
Shareholder
Employees
Investor
Stakeholder
12
Which of the following is
not
a form of primary research?
Questionnaires
Interviews
Newspapers
Surveys
13
Businesses can grow externally by...
planting trees
increase marketing
hire more employees
buying another business
14
What is meant by 'autocratic' leadership?
The manager is in charge and tells employees what to do
Employees are involved in the decision making
The leader asks employees what they want to do
Employees can do what they want
15
Plc's operate in the private sector?
True
False
16
Scarcity is...
Lack of products to fulfil total population wants
Unlimited liability
Lack of food and water in the desert
Unlimited needs
17
Which is an example of a service? Choose two
Hairdressers
Intangible products
Going to the shop
Tangible products
18
Are public sector and public limited companies the same as public sector?
True
False
19
Retailers are part of the tertiary sector?
False
True
20
Are you ready for a speed round? Select two correct answers
No I need to read a text
Yes! I am ready
Lets go! :-)
Maybe
21
What is a mass market?
Sell products wholesale
Products are specialized
Selling a large number of the same product to the whole market
Sell products as a retailer
22
Which one of the following is an example of long-term finance for a sole trader? Select one answer.
Overdraft
Share capital
Trade credit
Bank loan
23
Which of these examples are in the primary sector?
Fisherman
Prime minister
Woodcutter
24
What is the type of business owned and run by one person? (Chick stall)
Partnership
Franchise
Soletrader
All of the above
25
What does USP mean? Select two answers
United service process
Using small print
Unique selling point
Features that sets a product apart from others
26
Which of the following is not a characteristic of an entrepreneur?
Independent
Confidence
Motivation
Elderly
27
Disadvantages of a Ltd include...
unlimited liability
government owns shares
legal process to form one
requires lots of money
