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GCSE Business Edexcel Unit 3 Flashcards | StudBud
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GCSE Business Edexcel Unit 3
GCSE Business Edexcel Unit 3
32 terms
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StudBud Administration
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2,022 plays
MCQ and short questions taken from past exam papers.
Flashcards
32 cards
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Questions
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Answers
1
Which is most likely to be a barrier to effective communication between workers?
Pressure groups
De-stocking
Poor customer service
Use of jargon
2
What is meant by the term export subsidy?
limit on amount of a good that can be imported/exported
a tax to be paid on a particular class of imports/exports
payment given to domestic businesses to encourage exports
a threatened penalty for disobeying a law or rule
3
KFC’s decision to launch its new breakfast menu in 18 of its outlets is an example of:
customer loyalty
market research
market research
product trial
4
Which one is most likely to lead to repeat purchase?
unfriendly staff
higher prices
loyalty cards
market research
5
Which is an environmental problem resulting from the activities of a business?
Pollution
Poor communication
higher costs
lower profits
6
Piece rates are paid according to how many:
product a worker produces
hours a worker is employed for
years a worker has been employed for
employees a worker is responsible for
7
What is the break-even point of this business?
2000
3000
1250
1000
8
Which is an example of quantitative market research for Tyrells crisps ?
A magazine article describing the launch of the new brand
Consumer opinions on the taste of the new crisps
Verbal feedback from retailers on the packaging of the crisp
Figures showing the growth rate of the UK crisp market
9
Which of the following is an internal source of finance?
a stock market fluctuation
an overdraft
a loan from a bank
selling assets
10
Which of the following is a cash inflow?
purchasing assets
longer credit terms to customers
payments to suppliers
taking out a bank loan
11
Looking at Fig 1 What is phase 3 of the Product Life Cycle called?
Introduction
Growth
Decline
Maturity
12
What is meant by the term 'salary'?
non-monetary payment such as free membership of a gym
payment per unit produced
A fixed payment for work, usually calculated over a year
a bonus earned on top of income for achieving a sales target
13
Which best describes the term productivity?
range of products made by a business
a number of products made that pass quality control
total output of a business
amount of products one worker can make in an hour
14
Which one of the following will improve a business's cash flow?
De-stocking
allowing customers longer to pay in cash
raising wages
Paying suppliers in cash more quickly
15
Which need is represented by Level of in Maslow's Hierarchy of Needs?
Esteem
Security
Physical
Self-actualisation
16
Which is most likely to result in immediate improvement in cash flow of a business?
smaller margin of safety
paying suppliers later
repaying a bank loan
increased productivity
17
Which one of the following elements of the marketing mix represents an online retailer?
Place
Promotion
Product
Price
18
Which is most likely to increase profits of a business if they increase...........
revenue by more than costs
variable costs by more than fixed costs
fixed costs
ticket prices
19
Product design is most likely to help a business....
improve its organisational structure
differentiate its products
generate quantitative research
reduce productivity
20
What is meant by the term quality control of a product/service?
checking that it meets minimum standard at end of production
philosophy where everyone is responsible
no faults or problems at all
checking it at every stage of production
21
Identify where in the Boston Matrix,KFC’s breakfast products were positioned when launched.
Problem Child
Dog
Cash Cow
Star
22
Which is the most likely result of good customer service?
Increased repeat purchases
increased cash outflows
lower profits
lower margin of safety
23
What is meant by the term cash flow?
when sales revenue is greater than cost
amount of cash flowing in and out of a business
amount of profit flowing into a business
amount of cash flowing out of a business.
24
Improving the design mix is most likely to lead to
product differentiation
increased worker motivation
excessive communication
improved stock control
25
Which of the following is an example of an external source of finance?
Selling assets
Retained profit
Share capital
Sales revenue
26
Which best describes the term minimum wage?
a fixed payment per year but paid monthly
a payment to an employee for reaching a sales target.
a payment made to employees for working extra hours
the lowest amount a business can legally pay its employees
27
Which stage of the PLC were Harry Potter sets most likely to be at by the end of 2012?
introduction
decline
growth
maturity
28
Which of the following is the best description of negative cash flow
Cash outflow exceeds cash inflow
Revenue is greater than costs
Cash inflow exceeds cash outflow
Costs are greater than revenue
29
What is the level of buffer stock that this business holds?
60
95
30
25
30
What is meant by the term 'pressure group'?
have an influence or interest in the business
organisation who seek to influence how a business operates
who own a portion of a business
invests in a high risk business
31
Which one is most likely reasons for the increase in Ryanair's profits?
higher fuel costs
increasing ticket sales
fewer passengers
falling productivity
32
A business breaks even at the level of output where:
variable costs = fixed costs
fixed costs = total revenue
total profits= total costs
total revenue = total costs
