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CCEA Business Studies GCSE Unit 1 Flashcards | StudBud
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CCEA Business Studies GCSE Unit 1
CCEA Business Studies GCSE Unit 1
60 terms
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Methodist College Belfast
Flashcards
60 cards
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Practice quiz
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Questions
60
Answers
1
The most likley example of
ethical
business behaviour is:
Reducing carbon emissions
Expanding overseas
Operating Fair Trade
Paying National Minimum Wage
2
What is an example of Primary Research?
Advertisements
Trade Journal
Focus Groups
Competitor accounts
3
Who can buy shares in a Public Limited Company?
Existing shareholders
Only listed friends and family
Anyone with sufficient funds and access to a broker
Partners
4
Disadvantage of a Private Limited Company?
equal shares in the business
lots of paperwork
can't raise as much capital
customers have less confidence
5
What is NOT a benefit to operating a business as a partnership?
increased capital for investment
no liability for the debts of another partner
greater pool of skills and talent to draw from
shared responsibilities
6
Stakeholder conflict arises when stakeholders have common interests
False
True
7
What is a disadvantage of a Sole Trader business?
You can choose your own holidays
Unlimited liability
You can be your own boss
You have Limited Liability
8
What is the role of the Advertising Standards Authority?
To enforce fair advertising of products and services
To enforce banking advertising
To ensure everyone pays their TV licences
To make all banks advertise in big letters
9
Which of the following is an advantage of penetration pricing?
Short-term strategy
Encourages customers to switch
Doesn't promote brand loyalty
Customers expect prices to stay low
10
Which is NOT an internal source of finance?
Overdraft
Sale of assets
Owner's savings
Retained profit
11
What's an example of good customer service?
smiling, listening customer's order, being respectful
judging customer
smiling and laughing, not listening to customer
giving the wrong order
12
Memorandum of Association
Document that set out what the companies main purpose of a limited company
Document that sets out the internal rules of the limited company
Document for shareholders to convince them to buy shares
Document for the public setting out details of a limited company
13
Extension strategies are...
methods used to prolong the life of a product
the level of sales of products at different stages over time
making a contribution to an event in return for publicity
the name of a product which consumers see as being different
14
EFQM = European Foundation for Quality Management
True
False
15
Which of the following is
not
a business growth objective?
To add three additional services
To reduce variable costs by 5%
To increase market share by 2%
To double the size of the factory
16
Employees in a medium sized business?
50-249
10-49
250 or more
1-9
17
One of the benefits of the EU for businesses is free ...
business
work
trade
18
Public relations is...
activities aimed at carrying a message to business operation managers
people who influence you to buy something
activities aimed at creating and maintaining relations -customer & business
Being related to someone who sells a product
19
Identify the
deindustrialisation
reasons for the changing economic structure of the UK
In 2013 nearly 50% of young people in the UK entered university
Mechanisation. Businesses replaced workers for machines - cheaper +reliable
many UK firms have moved to NEEs
UK government spent £5 billion on high tech research + development in 2015
20
How can a business market themselves via m-business?
Posters on windows
Sending leaflets into post boxes
Promotions via SMS texting/ emails
Bill boards
21
What is e-business?
The use of the internet for buying,selling and ordering of goods & services
The use of the intranet to promote products and services
The use of technology to automate business processes
The use of mobile devices to manage business operations
22
The EU's "four freedoms" are
Free movement of goods, services, capital and people
Free horse travelling, chicken fajitas, tropical fruit and chili con carne
Free goods, services, capital and people
Free movement of horses, people, chicken and dogs
23
Disadvantage of specialisation
Increased efficiency
Can become extremely repetitive deceasing productivity
Become extremely efficient increasing productivity
Decreased output
24
An advantage of international trade is:
Research and development conducted in other countries
Higher production costs
Market expansion
Job loss
25
Which of the following is NOT a benefit for
businesses
to conduct trade internationally?
Access to higher quality/quantity of resources
More variety of products to buy
Access to Markets = More consumers
Lower Labour Costs
26
A benefit of retained profit
Can be paid back over a long period of time
No interest charged on the amount used
May receive additional advice and support
Opportunity cost
27
An advantage of social media advertising is:
Reach is essentially 100% of all customers
Because you can have fun while you work
It is always free
You receive real-time information about who is seeing your ads and how they
28
Which is an example of job production?
Car assembly line
Wedding dress designer
Bakery making slightly different flavoured croissants
Tinned soup producer
29
What is NOT a business aim
Survival
Growth
Popularity
Customer Satisfaction
30
A Mission statement...
Important and lasting beliefs or ideals shared by a business
defines the company's business and reason for existence
Short term goal of a business to help achieve an overall aim
A set of targets for a the business to achieve
31
Which is
least likely
to be an example of a stakeholder group in a local business?
Foreign government
Owners
Managers
Banks
32
How might stakeholder conflicts arise?
Employees complaining about pay and conditions.
Consumers agreeing with the business.
Neighbours not complaining.
The difference between Beef and Lamb.
33
A benefit of competition for consumers is
better quality products at higher prices
wider selection, better quality, lower prices
improved service but narrow selection of products
wider selection with minimum service
34
An example of a Primary Sector activity is...
Dean working in the car factory
Cara planting seeds on her farm
Sarah the lawyer seeing a client
Susan canning beans in the beans factory
35
Which is NOT a characteristic of an entrepreneur?
Risk taker
Independent
Procrastinator
Self-motivated
36
Disadvantages of a franchise
Lots of independence
Lack of independence
Risk faliure
none of the above
37
A Secondary Sector Activity is...
Mining for the clay to make the bricks
Building the house
Selling the house
Selling the bricks to the builders
38
What is a negative impact of competition on consumers?
marketing may persuade consumers to buy what they do not want
quality of goods and services decreases
price increases
price decreases
39
Which of these is NOT an impact of technology on manufacturing
More staff needed for the assembly line
Staff redundancies
New job roles or retraining needed
Capital Costs rise
40
Which of these is not a key feature specified in the Consumer Rights Act?
Of Satisfactory Quality
Fit for Purpose
Must not be stolen
As described
41
What is
not
a type of business?
Franchise
Public Limited Companies
Co-Operatives
Dual Trader
42
What advantages does the franchisee have?
A license fee must be paid to the franchisor
No training is provided by the franchisor
Less independence from the franchisor
Less chances of business failure
43
What is limited liability?
Nothing can be lost
A shareholder can't lose other items such as a house
Shareholder only lose value of their shares in the business
Shareholder can lose personal assets such as a car or house
44
Which is most likely reason customer service is important to a business?
because it has to meet legal requirements
because it leads to customer loyalty
because customers add value
because customers will use the service if the price is right
45
Which of the following is an example of destroyer pricing?
Microsoft making a new computer to sell.
Microsoft adding internet explorer to computers for free.
Microsoft selling anti virus software.
46
Which is an Advantage of using M-Business?
Advertising must be available worldwide
Businesses machinery needs to be up to date
Increased Competition
Customers can access information about products and services
47
What is NOT an example of good customer service?
Not knowing the product/service in detail
Responding quickly to complaints
Being polite and friendly
Dispatching orders quickly
48
Health and Safety is the responsibility of
The employee
The health and safety officer
The employer and employee
The employer
49
An advantage of Just in Time is...
Less deliveries going to customers
More products in warehouse
More stock held
Less space needed for storage
50
Customer Service Excellence Award focuses on the importance of people in the workplace
True
False
51
Sales Promotion means
Using TV Advertising to increase sales
Using customer segmentation to develop an strategy
The use of incentives to persuade a customer to purchase
Using Social Media to get a number of follows
52
Not a feature of the EFQM
Leadership
Processes
People Results
Quality of Board of Directors
53
The Public Sector
Is run to support charities
Is run for profit
run for the benefit of the country
Is run for fun
54
What is a disadvantage of increased international freedom of trade for UK businesses?
There may be greater competition
there are more potential customers
There are greater economies of scale
55
The M in M-business stands for
Master
Minimal
Mobile
Mobility
56
In which stage of the product life cycle are sales
most likley
to be lowest?
Introduction/launch
Maturity
Saturation
Growth
57
What ISN'T a benefit of competition for the consumer?
Encourages improvement
Reasonable prices
Easier decisions
Larger product pool
58
Which of these is NOT a reason why quality customer service is important?
customers will recommend the business to others
employees will get more tips and bonuses from employers.
customer loyalty is created
customers will have positive experience and come back
59
Which of these is a disadvantage of the EU for a UK business?
More laws to follow
Better access to skills
Cheaper access to raw materials
Increased demand
60
As part of the partnership agreement...
partners have the same values
each partner must purchase stocks
partners don't really care about making money
the agreement must be reorganized if one partner quits
