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Unit 1 Business Studies Revision - 1 - FN Flashcards | StudBud
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Unit 1 Business Studies Revision - 1 - FN
Unit 1 Business Studies Revision - 1 - FN
17 terms
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GCSE Business Studies Revision #edexcel #businessstudies #gcse #revision
Flashcards
17 cards
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Questions
17
Answers
1
Identifying where there is a gap for a business opportunity is known as:
Financial objectives
Marketing mix
Market mapping
Cash flow forecast
2
The price of one currency in terms of another is known as:
Income tax
Cash flow forecast
Capital
Exchange rate
3
Which one of the following is the most important feature of enterprise?
A willingness to take risks
Employing people
Gaining qualifications
Poor planning
4
Which one of the following is an example of variable costs?
Raw materials
Loan repayments
Insurance premiums
Salaries
5
Which one of the following would break legislation if included in a job advertisement?
"Must have at least NVQ level 2"
"Two years of experience"
"Working hours"
"Must be British"
6
Which one of the following is a disadvantage of using personal savings as a source of finance?
The money will not have to be repaid
The amount available might not be sufficient
The money is instantly available
No interest will have to be paid
7
Which is the most likely reason for sole traders to fail in the first two years?
Having to publish accounts
Too much consumer demand
Competition from larger companies
Not being able to have a holiday
8
A document that shows money going in and out of a business is known as:
Financial objectives
Income tax
Cash flow forecast
Capital
9
Which of the following would add value to a sandwich shop?
No uniform for staff
Producing a business plan
Competitors increasing prices
Increasing opening hours
10
What would be the impact on a business if they started to make a loss?
Higher Corporation Tax
Lower fixed costs
Higher net cash flow
Lower overall profit
11
Which one of the following is an example of long-term finance for a sole trader?
Bank Loan
Overdraft
Share Capital
Trade credit
12
Using the internet to gather information is which type of market research?
Focus group
Primary research
Secondary research
Segmentation
13
Which one of the following would be the LEAST effective in adding value to customer experience?
Being able to reserve a seat
Being able to book tickets online
Offering flights to fewer destinations
Offering flights to more destinations
14
Which one of the following is an example of a short-term source of finance?
Overdraft
Loan from bank
Share capital
Venture capital
15
Which is a way that a business could ensure it provides quality customer service:
Reducing staff working hours
Providing regular staff training
Decreasing the number of staff
Cutting staff wages
16
Which two of the following is a stakeholder in a sandwich shop('Sandwiches to Go')?
Customers of Sandwiches to Go
Owners of the railway station
Commuters who pass by Sandwiches to Go
Newsagent whose shop is near to Sandwiches to Go
17
Which two of the following are the most likely advantages of starting a franchise?
Ability to offer a different service
Banks are more willing to lend money
Can buy goods to sell from any supplier
Training and support are provided
