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Y11 Business Studies Flashcards | StudBud
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Y11 Business Studies
Y11 Business Studies
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121 plays
gcse business #business #communication #departmentfuctions...
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
what are examples of current assets?
stock
rent
vehicles
equipment
2
which department would be in charge of research and development?
Production
Marketing
Human Resources
Finance
3
VAT is a tax on...
profit
income
property
sales
4
which of these options would use flow production
prom dress
books
pencils
soap
5
When quality is inspected at every stage of production, this is known as...?
quality management
quality control
quality improvement (kaizen)
quality assurance
6
how are interest rates set in the UK?
decided by the EU banking committee
decided by international market rate
decided by the UK government
decided by MPC
7
what is the margin of safety
difference between break-even and total revenue
how much output a business has to produce
the amount of output available to be sold above break-even
the point in the break-even analysis that you can make pofit
8
what is not part of the primary sector
mining
quarrying
forestry
transport
9
A business has to raise prices to pay higher wages. Which stakeholder is affected LEAST?
managers
customers
shareholders
workers
10
what are the factors of production?
land, labour, capital, profit
Capital, land, product, assets
land, labour, capital, sales
capital, labour, enterprise, land
11
which of these is the definition of fiscal policy
using changes in interest rates and money supply
using changes in taxation and government expenditure
12
what is the formula of break-even?
fixed costs/ sales - variable costs per unit
fixed costs/ revenue - variable costs per unit
fixed costs/ price - variable costs per unit
fixed costs/ cost of sales - variable costs per unit
13
what can governments do to help the economy?
interest rates increased
income tax lowered
increasing money supply
reducing interest rates
14
inspecting finished products at the end of a production line is known as?
quality control
quality management
quality assurance
quality inspection
15
Starting a business that fails probably means that...?
starting another business would be too risky
market research wasn't very good
everybody loses a lot of money
starting another business is more likely to succeed
16
which one would be considered PLACE in the marketing mix?
a new design
a point of sale display
home delivery service
free gift
17
a new band would protect its songs by...?
warning competitors not to copy them
keeping records to show they wrote the song
hiring lawyers
obtaining a patent
18
what are long term liabilities
cash
loan
assets
mortgage
19
which of these is not a SMART objective?
manageable
maximisation
time specific
specific
20
what is a person who owes money to the business called
producer
stakeholder
debtor
creditor
21
which one of these does not fall under downward communication?
helps managers understand needs of subordinates
allows managers to control and organise
allows decisions to be carried out by employees
alert managers to problems
22
what are the advantages of budgets
motivation
more profit
share capital
working capital
