Edexcel GCSE Business 1.2 - 1.4 revision 1

What source of finance is for short term emergencies

• Overdraft

• Bank Loan

• Venture Capital

• Crowdfunding

What is the formula for break even

• Fixed costs / contribution

• Fixed costs / selling price

• Variable costs / selling price

• Fixed costs / margin of safety

What is the break even point

• Where sales revenue is the same as fixed costs

• Where sales revenue is the same as variable costs

• Where sales revenue is the same as total costs

• Where fixed costs is the same as variable costs

What is trade credit

• A short term source of finance from a supplier for stock.

• A long term source of finance from a supplier for stock

• A short term source of finance from a bank for stock

• A long term source of finance from a bank for stock

Businesses that have unlimited liability are

• incorporated

• unincorporated

• Limited companies

• Franchises

In limited liability personal assets are protected

• True

• False

• Neither

• Both

Which is part of the marketing mix

• Product

• People

• Plans

• Advertisinf

What is the term for using mobile phones to sell products/services

• E commerce

• Apps

• M Commerce

• Payment platform

How do new business ideas come about

• Changes in technology

• Adapting an exiting idea

• Products being obsolete

• Changes in consumer wants

Which of these is not a method of adding value

• Branding

• Convenience

• Design

• Price