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IGCSE Business revision 3 Flashcards | StudBud
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IGCSE Business revision 3
IGCSE Business revision 3
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Some random questions for Edexcel Business Studies Unit 3 #businessunit3gcse
Flashcards
20 cards
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Questions
20
Answers
1
A market segment is...
An area of the market the business sells in
A group of customers with similar buying habits
A business owner
The people who buy your product
2
Being ethical can not allow a business to...
Charge higher prices
Pay less than the national minimum wage
Add value
Differentiate itself in the market
3
Which of the following is not an example of quantitative data
146 people bought the product yesterday
I think the product is ...
How many times a month do you buy this product?
Do you prefer red or blue packaging?
4
Which may extend the life cycle of a product?
Import less
Rebranding
Increasing the price
Reduce manufacturing
5
Which of the following is not part of Maslow's hierarchy of needs?
Teamwork
Social
Self-actualisation
Safety
6
Buffer stock is ...
The level that stock is ordered at
The minimum stock level
Stock that gets used up quickly
The maximum stock level
7
Which is not an advantage of increased motivation of workers?
So staff are less likely to take time off
So they can give better customer service
So they can earn a higher wage
So employees are more productive
8
Which of the following will allow a business to increase its profits?
Advertise less
None of the above
Keep revenue the same but decrease total costs
Reduce revenue and increase total costs
9
Which is not a source of secondary research?
Focus groups
Newspapers
Internet
Journals
10
Which is not an advantage of holding larger amounts of buffer stock?
Better brand image
Increased ability to meet customer orders
Better customer service
Perishable goods may go off
11
The formula for
break even
is
Contribution / Fixed costs
Selling price - variable costs
Total revenue - total costs
Fixed costs / Contribution
12
Which is not a stage of the product life cycle?
Growth
Introduction
Maturity
Peak
13
Remuneration refers to...
Rewarding people for work
Fringe benefits
Having a wide range of skills
How people get paid
14
Which is not an element of the 4Ps of the marketing mix?
Promotion
Price
People
Place
15
Which is the element of the marketing mix responsible for the distribution of the product?
Product
Place
Place
Distribution
16
Market mapping is used for ...
Mapping out your route to market
Finding gaps in the market
Thinking about how to get to work
Making sure people know where your business is
17
Which is not an element of the design mix?
Cost
Size
Aesthetics
Function
18
Which of the following is not a element of the Boston Matrix?
Cash Cow
Dog
Star
Problem Mark
19
Which of the following is likely to see an improvement of cash flow?
Buy more stock
Increased interest rates on money borrowed
Take out a bank loan
Paying suppliers earlier
20
What is the impact on UK businesses if the Pound strengthens?
Exports cheaper
Imports cheaper
Imports dearer
Will have to pay more back to the bank
